If history repeats itself, can Dogecoin (DOGE) soar 12000%?
Dogecoin (DOGE) is now a star in the cryptocurrency world, with prices soaring and plummeting. Elon Musk’s tweets and market trends can affect it. Recently, the market has retraced, and DOGE has dropped 40%, but don’t forget, history is astonishingly similar; this might just be the valley before a big surge. Let’s see if DOGE can soar again like in 2021, and even break records!
Can DOGE recreate the madness of 2021?
During that wave in 2021, DOGE skyrocketed!
First up, then down:
It surged 476% from the valley, then fell 56%.
New highs:
After dropping, it surged again, skyrocketing 12000%, a historic high!
If history repeats:
In 2024, DOGE first surged 440%, then retraced 46%.
Following this rhythm, DOGE might surge again, with possibilities ranging from 5000% to 12000%!
What does a DOGE surge mean?
Surge of 5000%:
If DOGE rises from the current $0.26 to 5000%, it would reach $13. Its market cap would directly surpass Bitcoin!
Surge of 12000%:
If it rises like in 2021, DOGE could reach $31 to $32, with a market cap of $4.5 trillion, surpassing Apple!
Why is DOGE so popular?
Musk Effect:
With a single tweet from Elon Musk, the price of DOGE can soar. His support is key to DOGE's success.
The charm of meme coins:
As the pioneer of meme coins, DOGE has a loyal fan community, boosting its popularity.
Low fees and speed:
DOGE has low transaction fees and fast speeds, making it the preferred choice for everyday small transactions.
Institutional interest:
More and more big players are starting to pay attention to DOGE, and its practicality and recognition are increasing.
What’s next for DOGE?
Short-term outlook:
Support levels:
$0.26, if it holds, it can rebound; $0.22, if it doesn’t hold, we’ll have to look at the next level.
Resistance levels:
$0.40, if it breaks through, it can continue to rise; $0.50, a psychological barrier, if it passes, it will have greater potential.
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