Although Dogecoin suffered a significant price correction after a large rise in the fourth quarter of 2024, a leading market analyst shared an ambitious target after this correction. The analyst predicts that a significant upward movement will take place by jumping back from a critical support zone of Dogecoin. Here is the analyst’s doge prediction
Doge Estimation drew attention
Bitcoin, on January 20, reached a new summit and continued to be traded above a psychological $ 100,000 level, while Altcoins such as Dogecoin experienced significant corrections. In particular, Dogecoin has lost speed following a huge rise that began in the last quarter of 2024. In this process, Dogecoin increased by more than 160 %in November, while in December, up to $ 0.4846. However, since then, breast Coin has suffered a depreciation of over 31 %, and the official announcement of the Goverd Trump’s oath ceremony and the official announcement of the Government Effeciency Department (Doge) could not change this trend.
Market commentator “Mycryptoparadise Analyzed Dogecoin’s latest price movements and possible future scenarios. In a study on TradingView, Analyst said that Dogecoin was in a correction phase during the weekly time period, and after this correction, Dogecoin would re -test a critical support zone before moving to a long -term sustainable rise.
12.611 percent rise of dollars will come?
The graph shared by the analyst includes important data showing that Dogecoin’s past price movements tend to re -test the support zones. For example, in June 2023, this correction was experienced after re -testing the support level of $ 0.06151 and leaving up to $ 0.1515 in October 2022. In addition, Dogecoin re -tested the $ 0.0880 support level in August 2023, and exhibited a similar movement.
In this context, “Mycryptoparadise, says that Dogecoin will re -test the support of $ 0.1512, where the price movement exploded in November began, and then there would be a sustainable price increase. After the recovery of Dogecoin from this region, the analyst claimed that the price could rise up to $ 42 with an increase of 12.611%.
However, the analyst did not give a timeline about when this target will be achieved. However, Dogecoin proposed to encourage its investors to make purchases from the bottom, and to expect market emotions to reversed or wait for the correction to continue. Compared to other market analyzes, the famous speculator Ali Martinez said that Dogecoin would rise up to $ 23 and that he saw this rise as the continuation of the cyclical fractal pattern. Currently, Dogecoin is trading at $ 0.3321 and has increased over 2 %in the last 24 hours. An important warning for investors is that this content is only for informational purposes and should not be taken as financial recommendations. Readers are encouraged to do detailed research before making any investment decisions.
