Will Dogecoin Skyrocket? $0.85 is Awaiting!
Dogecoin recently dropped by 12%, down to 0.3796, which is quite alarming. But smart traders don’t just look at the present; they are focused on the larger 'cup and handle' pattern, predicting a potential surge this month, targeting 0.85!
Why did it drop today?
The entire market collapsed, dropping 7.5% in 24 hours, and Dogecoin fell by 12% as well. However, Dogecoin has still risen by 176% this month, which is impressive!
What is the 'cup and handle' pattern?
Analyst Ali Martinez mentioned that Dogecoin's trend looks quite bullish.
The support level is at 0.35; this level needs to hold, or else the rebound will be in jeopardy. The breakout target is 0.85, and once the market gains momentum, Dogecoin could soar up quickly.
Martinez remains confident in Dogecoin; as long as it holds at 0.37, we can rebound to 0.40 and set new highs.
Why can Dogecoin rise?
The Dogecoin Foundation has ramped up efforts, securing funding for development and promotion, stabilizing the fundamentals.
Market sentiment is bullish, and Dogecoin's 'cup and handle' pattern signals an upward trend.
Emoji packs + the Musk effect, retail investors and influencers love Dogecoin, and Musk's X payments help too.
If you have some spare cash, you might consider investing in Dogecoin; I think it should do well.
If you often miss the right timing and feel confused about how to operate, wanting to learn and keep up requires meeting one condition: you need to be proactive. Just do it, like + comment, and I’ll help you make big money!
