Dogecoin is about to explode? Experts predict a 200% increase!
Cryptocurrency expert Ali Martinez believes that Dogecoin ($DOGE) may be about to usher in a wave of big increases, which is the first time since December 2021. He looked at it through technical means and said that if the current trend does not change, the price of Dogecoin may double in the next few weeks.
Martinez found that Dogecoin seemed to have finally gotten rid of the years of falling curse, which used to bring price increases. In the past, Dogecoin could rise by 200% after each breakthrough. He also guessed that this time Dogecoin might break through the $0.2236 mark, which is a price that has not been seen for a long time.
At the end of September, the price of Dogecoin suddenly rose by 25%, but the good times did not last long, and then fell back to $0.11. Other analysts have also said that if Dogecoin can survive the $0.1120 mark, it is very likely to reach $0.1315 this month. However, they also reminded investors not to be too happy too soon. There have been cases in the past where the price fell back by 60% after breaking through. You have to wait before it can continue to rise.
The key reason why Dogecoin can rise this time is that there are more active addresses. Martinez said that the number of active addresses of Dogecoin has reached a new high in nearly eight months, with 133,880. This shows that people's interest in this coin has returned, new users are increasing rapidly, and more people are trading, which naturally pushes the price up.
But don't forget that the cryptocurrency market changes very quickly, and the price is affected by many things, such as everyone's emotions, technological development, the overall environment, etc. So, even if someone is optimistic about Dogecoin, investors must be careful and manage their own risks.
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