Dogecoin has recently attracted significant attention. The token is currently making mainstream news primarily due to Musk's new promotional campaign for the Government Efficiency Department or DOGE, followed by his occasional mentions of Doge. Additionally, the popularity of Dogecoin is also rising sharply, with meme coins garnering substantial attention lately. Will Doge ever be able to leap and achieve the coveted price range of $0.70 to $1? One prediction suggests it might.
Dogecoin's Price Chart is About to Experience a Breakthrough Change
Dogecoin is currently at $0.31, up 1% in the past 24 hours. This token has recorded a significant price increase this year, especially after Tesla CEO Elon Musk announced the establishment of the Government Efficiency Department or DOGE. Furthermore, Musk, along with Trump, will stir the cryptocurrency world, as both entities are strong crypto advocates, which is empowering this sector and Dogecoin as well.
Amid all this, a new price prediction suggests that Dogecoin will reach new highs as the token follows a new path. According to Javon Marks, Dogecoin is currently undergoing a price 'pullback', a pattern also noted in the previous price statistics and cycles of this token.
The expert later shared an intriguing insight, adding that the recent pullback could propel Dogecoin to staggering heights. Marks estimates that Doge will increase by 122%, potentially pushing the price up to $0.73 in the near future.
“The recent pullback of $DOGE (Dogecoin) seems to be something the price has encountered before the previous cycle, RIGHT BEFORE IT SOARS AND BREAKS THROUGH THE ALL-TIME HIGH! Looking at similar positions, we can prepare for another rally >122% (>2.22X) at a minimum, up and above $0.73905...”
Technical Price Indicators and Trajectory of the Token
While Dogecoin is basking in price gains and attention, technical platforms like CoinCodex have a different story. According to CC, Doge may continue to decrease to $0.27 by mid-January 2025.
“According to our current Dogecoin price prediction, the Dogecoin price is expected to decrease by -10.72% and reach $0.273016 by January 22, 2025. Based on our technical indicators, the current sentiment is pessimistic while the Fear & Greed Index is showing 73 (greed). Dogecoin has recorded 14/30 (47%) green days with a price volatility of 8.88% over the last 30 days. Based on the Dogecoin forecast, now is a bad time to buy Dogecoin.”
However, the token could reach the $1 mark by March 2025, increasing by 100% in the process.
“According to our current DOGE price prediction, the DOGE price is expected to increase by 304.47% and reach $1.23691 by March 23, 2025. Based on our technical indicators, the current sentiment is pessimistic while the Fear and Greed Index is showing 73 (greed). DOGE has recorded 14/30 (47%) green days with a price volatility of 8.88% over the last 30 days. Based on the DOGE forecast, now is a bad time to buy Dogecoin.”
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