Is Dogecoin about to take off? Analysts say DOGE could soar to $4 within a week, an increase of over 1000%!
Santini, the head of Elemento Cripto, made this prediction based on Dogecoin's price fluctuations since its launch in 2017. He mentioned that before Dogecoin rises again, it may first experience a period of correction, which could last a month or even longer.
At the beginning of December, once the results of the US election were announced, Dogecoin's price surged to a high of $0.48, but it is currently in a correction phase. Since that time, the price has already dropped by 35%. However, Santini feels that this price drop is quite normal and is part of the market cycle.
Santini also noted that looking at Dogecoin's historical trends, every time there’s a correction, the market trend tends to oscillate. He examined Dogecoin's weekly chart and observed that each mid-term cooling period lasts about a month. He predicts that after this correction, Dogecoin will rebound dramatically, potentially breaking through $4 within a week. Currently, the price is only $0.3253, which means Dogecoin could rise by more than 1168%, which is quite astonishing!
This wave of Dogecoin activity has left everyone both excited and worried. Some investors are quite conservative about cryptocurrencies due to the significant price volatility; however, others see an opportunity to profit and are ready to jump in. Although this correction has caught everyone’s attention, analysts like Santini believe that such fluctuations are the norm in the market and could be a precursor to a major surge.
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