Crypto Analyst Says Dogecoin Could Reach $2.4, What Does Elon Musk Think?

After rebounding slightly below $0.17 in the previous 24 hours, Dogecoin seems to have found support. After clearing $0.17, a convincing break above $0.18 is next. Interestingly, Dogecoin technical analysis predicts a significant multi-year resistance level between $0.18 and $0.20.

Technical analysis employing Elliot waves implies a break over resistance might lead to a $2.4 high. This aim may sound unrealistic, but Dogecoin's revived popularity and price rises show its capacity to attract investors. Elon Musk's recent efforts to mainstream Dogecoin demonstrate this.

Crypto Analyst Says Dogecoin Will Reach $2.4, Elon Musk Key
Elon Musk and his “Department Of Government Efficiency” have helped Dogecoin perform well, in addition to Bitcoin's recent price gain.

Musk's Department of Government Efficiency is part of Republican candidate Donald Trump's $2 trillion government budget reduction strategy. The word DOGE, the Dogecoin ticker, has captivated investors despite its apparent unrelatedness to cryptocurrencies. Elon Musk recently posted a photo of himself with the Dogecoin avatar, fueling this narrative among investors.

HovWaves stated that DOGE has become a household name in recent weeks because to all the discussion. This enthusiasm has driven the Dogecoin price up 60% since October 1.

A Dogecoin timeline Reaching $2.4
Technical analysis employing Elliot Wave theory shows Dogecoin in its third impulse wave, a very bullish period. HovWaves noted that Dogecoin was breaking over a significant barrier mark just below $0.18 during this bullish trend.


After breaking the resistance level, Dogecoin might retest its 2024 high of $0.22. A break over this high would take it to $0.73 in May 2021, its all-time high. HovWaves estimated Dogecoin will reach $1.9–$2.9 by July 2025 with adequate momentum.

The current Dogecoin price is $0.1725. A break to $1.9 and $2.9 would provide 1,000% and 1,585% profits.

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