Dogecoin Price Prediction: DOGE Soars 171% In A Month, But Experts Say This Vote-To-Earn Meme Coin Might Be The Best Crypto To Buy Now
The Dogecoin price soared 171% in the last month and 2% in the last 24 hours to trade at $0.4389 as of 11:40 p.m. EST on trading volume that climbed 40% to $11.3 billion.
Dogecoin Price Gearing Up For A Bullish Rally Continuation
After a parabolic surge in the Dogecoin price in November, DOGE has now consolidated within the $0.44 range, according to data from GeckoTerminal . The range has allowed the price of Dogecoin to form a double bottom pattern, which could still push DOGE further above.
To add to the general bullish outlook, the Dogecoin price still trades above both the 50-day and 200-day Simple Moving Averages (SMAs), which now act as the immediate support levels.
Meanwhile, the Relative Strength Index (RSI) is at 62 and climbing, which suggests there is still room for upward price action without the asset being considered overbought.
The Moving Average Convergence Divergence (MACD) is also suggesting a continued upward trajectory, as the blue MACD line crosses above the orange signal line.
A continuation of the upward trajectory could suggest a bullish continuation pattern from the second rounded bottom pattern. In such a scenario that the bulls keep pushing the price up, the Dogecoin price could keep surging, as they target $0.60.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Cardano (ADA) Climbs to $1.15 as Whale Accumulation Suggests Potential for Further Gains
Stellar (XLM) Upgrade Potential Could Influence Market Trends Amid Rising Volatility in Altcoins
Ethereum ETF staking yield likely to be approved under crypto-friendly 'Trump 2.0' SEC, Bernstein says
Analysts at Bernstein said that despite ether’s underperformance this year, its fundamentals look strong, and the risk-reward ratio is now attractive.The potential for staking yields to be approved for spot Ethereum exchange-traded funds under Trump, the recent inflection in ETF inflows, favorable demand-supply dynamics, and a surge in activity on the blockchain were outlined as factors driving a revival of interest.