‘DOGEcoin could be launched to the moon’, says an anonymous Trading View cryptocurrency analyst, offering a $5 price target.
Doge Coin is a cryptocurrency developed in December 2013 and it is characterized by using the image of a Japanese Shiba Inu as its logo.
- When investing in this meme coin like DOGEcoin, you must reduce risk through diversified investment. In other words, when investing in DOGEcoin, it is recommended to reduce risk by diversifying investments in other cryptocurrencies, stocks, and bonds.
- I would like to recommend investing from a long-term perspective. DOGEcoin is a cryptocurrency with high short-term volatility. Therefore, it is recommended to minimize losses by investing from a long-term perspective.
- Investment goals must be clear. It is best to be clear about the purpose of investing in Dogecoin and establish an investment strategy accordingly.
An anonymous cryptocurrency analyst believes that DOGEcoin, a cryptocurrency that is a meme coin.
The value of DOGE may surge and reach $5(US Dollar).
This is a projected 5000-6000% increase over current value.
The analyst shared a chart of DOGE on TradingView, detailing important points such as a retest of $0.056 and a breakout of $0.072, predicting a surge to $5.
At the moment, Dogecoin is trading at $0.077.
CryptoPatel said, “The pattern of DOGE coin is repeating itself, signaling that a major explosion is just around the corner. The perfect retest is coming and it’s creating an incredible entry setup.
Once the retest is complete, watch Dogecoin soar to the moon! “During a bull market memecoin season, $5 is a realistic target.”
This forecast comes from that 990 million Dogecoin were transferred on Tuesday, equivalent to about $79.75 million.
According to the data from Bitinfocharts, Active Dogecoin transactions suddenly hit record highs, exceeding 250,000 per day in December.
Why It Matters: Earlier this week, another analyst, Ali Martinez, identified a buying signal on Dogecoin’s 3-day chart. This indicator was identified via TD Sequential and suggests that Dogecoin’s market position may be reversing.
On-chain cryptocurrency analyst Ali Martinez said, “As long as the $0.074 support cluster continues, DOGEcoin will likely bounce back above $0.100!”
Dogecoin’s all-time high was recorded at $0.74. With a circulating supply of 142,687,466,384 DOGE, the market cap will skyrocket once the $5 target price is reached. This brings Dogecoin’s market capitalization to approximately $713.44 billion.
