The original breast coin may be preparing for a great rise in Dogecoin (Dge). Some analysts foresee that they may soon reach $ 1.1. Dogge is currently trading for $ 0.1728 and showing models reminiscent of 2017 Taurus Run, leading to optimism among the traders.
When will the doge be $ 1.1?
Crypto analyst Master Kenobi drew attention to the striking similarities between Dogge’s current price movement and the 2017 cycle. According to their analysis, breast Coin experienced two equal pumps in this bull market in terms of both value and time. In this context, the analyst makes the following statement:
The existing formation on the Dogge graph is very well numb with its 2017 formation. (…) I did the same for the first stage of the current cycle: I simply drew a yellow line showing where it started, where it peaked and how long it took. Later, I copied it and just like in 2017, I placed it in a similar space, marked with the touch of 200 SMA, according to the place we now consider as a “local bottom .. This gives us a $ 1.1 summit in the first week of June. There is no guarantee that this will really happen, but it may be remarkable as an interesting observation.
Other experts point to the north for breast coin!
DogeCapıtal, another expert, reiterated this estimation by stating that he reversed upwards after he touched a significant support line of Dogecoin after four years. According to them, this cycle seems to follow the same order. Also, it is likely that a jump is likely to trigger the next stage of a fluctuation.
Meanwhile, Trader Tardigrade emphasized an important return signal for Doge. Token’s last weekly candle was often closed as Doji, a model linked to trend changes. According to him, this signal was last seen before a major rally.
Market conditions and ETF hopes increase optimism!
Despite the 38 %decrease last month, the rise signals for Dogecoin continue to come. Recently, popular crypto analyst Ali Martinez said that whale investors have accumulated more than 1.4 billion domans in a 24 -hour period, reduced the supply and paved the ground for a potentially recovering price.
Kriptokoin.comAs you have followed, the excitement is added to the possibility of Spot Dogecoin ETF. While major investment companies such as Grayscale and Bitwise have applied, Bloomberg experts James Seyffart and Eric Balchunas argue that such a product is approximately 75 %by the securities and the stock market commission (SEC). The green light of the regulator will facilitate access to breast coin and possibly increase the demand and price.
