Dogecoin is currently one of the most promising cryptocurrency tokens on the market. Dogecoin has gained much attention as it is one of the tokens publicly discussed by Tesla CEO Elon Musk. With Musk officially establishing a connection with the White House through Dogecoin, the token could skyrocket to unprecedented heights and soon set new records.
Dogecoin is about to reach $0.82
The current price of Dogecoin is $0.42, having dropped 3% in the past 24 hours. The continuous fluctuations in Dogecoin's price are due to the volatility of Bitcoin's price. Over the past two days, the king of cryptocurrencies has slightly fallen, stabilizing at $98,000 as of the time of writing.
However, due to a close relationship with Tesla CEO Elon Musk, Doge is destined to receive a lot of attention. Musk is now ready to take over the DOGE department, and this abbreviation suggests an expected price surge for Doge, which could last a long time if the market supports it.
In addition, renowned cryptocurrency analyst Ali shared an astonishing price analysis for Dogecoin, stating that the token could soon reach the price milestone of $0.82. According to Ali, Dogecoin is currently forming a bullish pattern on its charts, suggesting a potential price increase of 120%. If Dogecoin continues to hold the support level of $0.37 without further decline, it could soon reach the desirable $0.82, provided it continues to leverage the current market momentum.
"Dogecoin $DOGE is in a bullish trend aiming to break $0.82!"
As mentioned by Ali, Doge is currently in a mid-term bullish breakout, and if the momentum is supported, the token may reach desirable price levels before the end of 2024.
December Token Price Prediction
As December approaches, expectations for Doge to set new highs are soaring. However, according to data from CoinCodex, Doge may drop 6% in December, reaching a price of $0.39 by December 25, 2024.
"Based on our current predictions for Dogecoin's price, it is expected to drop -6.28%, reaching $0.394263 by December 25, 2024. According to our technical indicators, the current market sentiment is bullish, while the Fear and Greed Index shows a reading of 82 (extreme greed). In the past 30 days, Dogecoin has been in an upward trend for 20 out of 30 days (67%), with a price volatility of 40.27%. Based on Dogecoin's predictions, now is a good time to buy Dogecoin."
