Dogecoin's recent performance has been very strong, making headlines. This is mainly due to Musk launching the 'DOGE' promotion plan, after which he occasionally mentions Dogecoin. Moreover, Dogecoin's popularity continues to rise, especially as meme coins are currently very hot. Many speculate that Dogecoin could break through its current price range, targeting between $0.70 and $1.
The price trend of Dogecoin may face changes.
Currently, the price of Dogecoin is around $0.31, having increased by 1% in the last 24 hours. This year, Dogecoin's price performance has been quite good, especially after Musk announced the establishment of the Department of Government Efficiency (DOGE).
Additionally, Elon Musk and Donald Trump, both staunch supporters of cryptocurrency, will join forces to bring more momentum to Dogecoin and the crypto market.
While everyone is discussing, some experts predict that the price of Dogecoin may see a new leap. According to Javon Marks' analysis, Dogecoin is currently in a price 'correction' phase, a pattern that has also appeared in earlier price trends.
He also shared some compelling views, suggesting that the recent correction will actually lay the foundation for the next wave of Dogecoin's increase. Marks predicts that Dogecoin could rise by 122%, with future prices potentially soaring to $0.73.
He stated: 'The recent correction of Dogecoin is like a marker for the previous cycle, similar trends have occurred before breaking historical highs! From this trend, we can prepare for an increase of over 122% (more than 2.2 times), with a target of at least exceeding $0.739.'
Technical indicators and price predictions.
Although Dogecoin is currently in a bullish trend in the market, some technical platforms provide different views. According to CoinCodex data, Dogecoin may drop again by mid-January 2025, with an expected drop to $0.27.
According to the current forecast, the price of Dogecoin may drop by 10.72% by January 22, 2025, to $0.273. Technical indicators show that market sentiment is currently bearish, with a fear and greed index of 73 (greed). Over the past 30 days, Dogecoin has seen 47% of days with price increases, with a price volatility of 8.88%. Given the current situation, it may not be the best time to enter the market.
However, the situation may be different by March 2025. By then, the price of Dogecoin is expected to rise significantly by 100%, breaking the $1 barrier.
According to our current forecast, by March 23, 2025, the price of Dogecoin is expected to rise over 300% to $1.24. Although technical indicators currently appear bearish, the market's fear and greed index still shows 73 (greed). Over the past 30 days, Dogecoin recorded 47% green days, with a price volatility of 8.88%. However, given the current market conditions, it is still not the best time to buy Dogecoin.
