Analysts commented on Dogecoin (DOGE): Will the rise continue?

Donald Trump, who won the US presidential election, brought a new peak to Bitcoin. Elon Musk, a Trump supporter, brought Dogecoin ($DOGE ) to the forefront again. The famous businessman, who supported the rise with his Dogecoin posts on X (formerly Twitter), made investors happy.

CrediBULL, who has 432,000 followers on X, thinks that DOGE is currently in a suitable area for shorting. However, according to the analyst, the market is in an upward trend and it seems illogical to take a short transaction for Dogecoin during this process. According to CrediBULL, the popular memecoin is targeting the $0.22-23 range. The analyst, who is not considering taking a short transaction in the parity for now, stated that he will inform his followers when he takes any action.

Another cryptocurrency analyst, Ali Martinez, stated that Dogecoin is priced within a descending triangle. The analyst, who claims that the critical level for Memecoin is $ 0.198, thinks that if this level is broken, there may be an increase to $ 0.22. Both analysts are following the $ 0.22 resistance for DOGE. Investors may pay particular attention to this level. In addition to these, Elon Musk's social media posts will play a critical role in this process. According to Musk's posts, the parity may experience increased volatility.

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