💵💵💵Is a $10 DOGE Price Prediction Possible Based on TradingView Trader's Analysis?

A TradingView trader made a convincing bullish price forecast, and now Dogecoin (DOGE) investors are wondering whether a pump to $12 is possible as the price consolidates at $0.16 and approaches its 21DMA.

In the years between 2015 and 2017, DOGE's value increased by more than 21,000%. Then, in 2020 and 2021, its value reached a 50,000% peak.

"Fallout from the bear market, accumulation phase, and, finally, a mind-melting bull run" have been commonplace in DOGE's price history.

"We are currently breaking out of accumulation and have completed the bear market," Crypto_Kinfolk remarked.

According to the data, Dogecoin's price has the potential to hit $12 during the next bull run.

The price of Dogecoin should hit $4.20, $10.10, and $12, according to my own objectives.

There does not seem to be any bullish or bearish momentum as it stays quite near to both its 21 and 50DMAs.

While other cryptocurrencies have been doing well as of late and Bitcoin is closing in on annual highs, DOGE may soon find itself playing catch-up.

At $12, DOGE would represent a 75x increase from its current price.

Consequently, DOGE may be a good meme cryptocurrency to invest in right now.

The already inflated Dogecoin market worth of $23.3 billion may make some doubt its ability to 75x.

In other words, Dogecoin's market value would rise to over $1.75 trillion, which is more than $250 billion more than Bitcoin's current market size.

Traders seeking 50-100x returns would do well to put their money into up-and-coming memes before they get viral.

Since the success of a new currency is uncertain, this tactic carries a high degree of risk.

#DOGE #BTC $DOGE