Price forecast for $3 Dogecoin by an Analyst
Dogecoin has fallen 8% in 24 hours amid this carnage. Despite the market fall, Dogecoin remains positive.
In the last 24 hours, cryptocurrency values have plummeted, sending the global crypto market worth down over 4%. This decrease has seen almost $1.75 billion in crypto holdings liquidated in the previous 24 hours, including $1.56 billion in long positions, according to CoinGlass.
Analyst Maintains $3 Dogecoin Price Target
Crypto expert confirmed his lofty Dogecoin price estimate despite the recent downturn, providing his observations on the site.
Despite the “crypto market bloodbath,” Dogecoin's foundations and development potential remain, he says.
A Dogecoin weekly candlestick chart that accompanied his forecast shows an upward channel highlighting this accumulating area. The price chart shows that Dogecoin has been trading in an upward channel since 2017, with higher highs and higher lows.
In recent months, Dogecoin has moved higher in the uptrend channel. The key aim is $3, which is important in the rise. If Dogecoin reached the center of this channel this cycle, it would trade slightly below $3.
Analysis goes beyond the $3 objective, suggesting further prospects for an amazing surge. While $3 is the immediate aim, he said Dogecoin may reach $18 in the current cycle.
Dogecoin is trading at $0.408, up from $0.388 the day before. Keeping Dogecoin in this rising channel and breaking critical resistance levels might lead to new all-time highs.
Dogecoin is expected to hit $0.7316 shortly. Technical signs show the Dogecoin price might hit $1 or $2 sooner than predicted, thus crypto specialist Cantonese Cat advised investors to be prepared for significant changes.
