LIVEDogecoin (DOGE) hitting $1? Here's why traders believe it's possible.
Many top traders have their sights set on the $1 mark for Dogecoin. But why? Some say it's just a matter of time. Big traders like the Tree of Alpha suggest that those who don't buy DOGE at 7 cents or 16 cents might regret it when it reaches $1.
Currently, DOGE is trading around $0.17, a significant increase from its recent levels. The chart shows that DOGE has been staying above the $0.11 support level, providing stability. If it continues above this line, it could see further gains.
The next challenge? Breaking through the $0.18 resistance level. If DOGE succeeds, it could accelerate its rally, possibly heading to $1. But there are psychological levels like $0.5 and $0.75 to overcome first.
For DOGE to skyrocket, it might need some help. Adoption as a payment method on major platforms could give it a boost. And let's not forget Elon Musk - he's been a big supporter of DOGE. His tweets have sent its price soaring in the past.
Will DOGE reach $1? It's uncertain, but traders with a track record believe in its potential. Keep an eye on local resistance levels if you're holding DOGE. A breakthrough could mean big gains. But remember, investing always carries risks.
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