The post Dogecoin (DOGE) to $10? Here’s What Experts Are Saying appeared first on Coinpedia Fintech News
Following a notable market-wide rally, major cryptocurrencies are experiencing a price correction. Amid this, a prominent cryptocurrency expert posted an article on X (formerly Twitter), stating that the most popular and largest meme coin Dogecoin (DOGE) is likely to hit $10 next year.
DOGE Could Hit $10, According to Experts
In a post on X, he stated, “For anyone who says $10 Dogecoin is impossible — show them this chart.” He shared a weekly DOGE chart, which shows the meme coin moving in an ascending channel pattern, forming higher highs and higher lows.
Source: X (Formerly Twitter)
Looking at the chart, it seems that DOGE is currently in a lower low and the next higher high is expected to be near $10 or $12. Based on this analysis, the analyst made this claim. However, this prediction is for the long term and it could take years to reach that target.
Current price momentum
At press time, DOGE was trading at around $0.114 and had seen a more modest 1.5% price drop over the past 24 hours. During the same period, its trading volume increased by 37%, indicating increased participation from traders and investors, possibly due to the upcoming presidential election in the United States.
Dogecoin (DOGE) Technical Analysis and Upcoming Levels
According to CoinPedia technical analysis, DOGE recently broke the neckline of a bullish double bottom price pattern. However, with the recent price correction, it seems that it has successfully retested the breakout level or neckline near $0.112 and is now facing resistance from the 200-day Exponential Moving Average (EMA).
Source: Trading View
Based on historical bullish momentum, if DOGE closes the daily candle above $0.118, there is a high chance that the price will surge 20% to reach $0.135 in the coming days.
Meanwhile, DOGE’s Relative Strength Index (RSI) supports this bullish outlook as it is currently in oversold territory, potentially implying a strong recovery or rally.
