Dogecoin breaks through a 3-year barrier, may surge 500% by 2025!
Dogecoin has broken the stalemate of the past 3 years, predicting that the price of DOGE could quintuple by 2025!
Dogecoin is on fire this time, thanks to Elon Musk. On October 27, at Trump’s campaign rally in New York, Musk talked about the “Department of Efficiency” he founded, aiming to save taxpayers $2 trillion. Coincidentally, the abbreviation of this agency coincided with Dogecoin’s code DOGE.
Dogecoin is currently showing strong momentum, with technical analysis indicating that the price may soar to $1 or even higher.
DOGE breaks through a 3-year large triangle
Dogecoin is riding high this time, keying on breaking through the symmetrical triangle pattern that started in April 2021. In technical analysis, such triangles often continue the previous trend, and the price fluctuation can be roughly equivalent to the distance between the upper and lower lines of the triangle.
Back in the day, from 2020 to 2021, Dogecoin also surged out like this, skyrocketing 31,375% after breaking the upper line. By October 2024, DOGE seems poised for another wave.
According to technical rules, DOGE’s price could reach $2 in the coming years, and by 2025, it might just hit $1.
There’s more good news: Dogecoin’s weekly Relative Strength Index (RSI) rebounded from a historical low of 46 in July. When this index rebounds, prices typically follow suit. If it really breaks through, the target price of $1-2 becomes more reliable, and a 500%-1000% increase from the current price isn't a dream.
Of course, if DOGE doesn’t break through, it might still hover within the triangle, potentially dropping to $0.09-$0.07, aligning with the 50-week EMA (red wavy line) and the lower line of the triangle.
If Trump wins, Dogecoin will be even hotter
If Trump wins the 2024 election, then his new partnership with Musk, along with the shared abbreviation “DOGE,” will heat up the speculation around Dogecoin.
Recently, I plan to ambush a potential coin that is ready to explode, doubling it is quite simple, and I also intend to find some potential coins to hold until the end of the year, expecting a space of over 10 times is not a problem. If you want to keep up, leave a message, follow, like, and share freely.
