Dogecoin (Doge) is on the radar of investors recently. Analysts predict that Doge can reach $ 4 with the expectations of Dogecoin ETF approval. Well, can this exciting scenario be real? Let’s take a closer look at the future of Dogecoin.
Big target for the price of Dogecoin: 4 dollars
Dogecoin has been following a positive course in recent weeks. Currently traded around 0.25 dollars, Dogge attracts the attention of analysts. Analyst Trader Tardigrade said that Dogge could reach $ 4 based on Dogecoin’s price momentum oscillator (PMO) data.
In addition, Analyst Crypto Tony said that if Dge exceeds $ 0.350, he could break new records. Exceeding this level can accelerate the rising trend of Dogecoin. These estimates increase the interest of investors in Dge.
Dogecoin ETF excitement can fly Doge
Nyse Arca submitted Grayscale’s application to listing Spot Dogecoin ETF to SEC. This move further increased the interest in Doge. Nyse Arca said that Dogecoin can be used as a payment tool like Bitcoin and Litecoin. He also emphasized that Doge is used by miners to pay transaction fees.
Bloomberg analysts James Seyffart and Eric Balchunas announced the probability of approved by the Dogecoin ETF at 75 %. This is highly probable, it can create a great mobility in the price of Doge. Dogecoin’s enthusiast Doge Lord, in this cycle, predicted that Doge could reach $ 1.
The current situation and future of Dogecoin
Dge is currently traded for $ 0.2573 and recorded an increase of 2.66 %in the last 24 hours. However, it has decreased 27 %in the last 30 days. With a market value of $ 37.75 billion and a transaction volume of 1.75 billion dollars, Doge continues to attract investors.
Analyst Rose Premium Signals said that Dogecoin remained over $ 0.20083, the fibonacci support level. This shows that Doge can reach 0.49931, 0.57406 and $ 0.65437. Experts think that exceeding the $ 0.29 level can start a new era for Dogge.
Conclusion: What will be the future of Dogecoin?
Dogecoin has a great rise potential with ETF approval. Analysts’ estimation of $ 4, promising for investors. However, uncertainties and volatility in the market remind you that care should be careful.
In short, Dogecoin is likely to experience a strong rise in the coming days. However, investors should not leave the risk management. The future of Doge will depend on both technical indicators and market dynamics.
