Dogecoin is about to soar! Musk is making moves, and the price of DOGE could skyrocket by 122%, challenging $1!
Recently, Dogecoin's performance has been very strong, making it the center of attention in the news. This is largely thanks to Musk's launch of the 'DOGE' promotion plan, after which he has been mentioning Dogecoin from time to time.
Moreover, the popularity of Dogecoin continues to rise, especially as meme coins are currently very hot. Many people speculate that Dogecoin may break through its current price range, challenging the $0.70 to $1 mark.
Currently, the price of Dogecoin is about $0.31, having risen by 1% in the past 24 hours. This year, Dogecoin's price performance has been quite good, especially after Musk announced the establishment of the Department of Government Efficiency (DOGE).
Additionally, Musk and Trump, both staunch supporters of cryptocurrency, will join forces to bring more momentum to Dogecoin and the crypto market.
While everyone is discussing this, some experts predict that Dogecoin's price may see a new leap. According to Javon Marks' analysis, Dogecoin is currently in a 'pullback' phase, a pattern that has also appeared in earlier price movements.
He also shared some convincing views, suggesting that the recent pullback will actually lay the foundation for the next wave of Dogecoin's rise. Marks predicts that Dogecoin could rise by 122%, with future prices possibly soaring to $0.73.
He stated: 'The recent pullback of Dogecoin is like a marker for the previous cycle, similar patterns have appeared before breaking historical highs! Based on this trend, we can prepare for a rise exceeding 122% (over 2.2 times), with a target of at least exceeding $0.739.'
'According to current forecasts, by January 22, 2025, the price of Dogecoin may drop by 10.72%, falling to $0.273. Technical indicators show that market sentiment is currently bearish, with the fear and greed index at 73 (greed).
In the past 30 days, Dogecoin has seen 47% of days with price increases, with a price volatility of 8.88%. Given the current situation, now may not be the best time to enter the market.'
