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You are here: Home / News / Dogecoin’s Meteoric Rise: Analysts Predict Bull Run and $1 Milestone
Dogecoin

Dogecoin’s Meteoric Rise: Analysts Predict Bull Run and $1 Milestone

November 11, 2023 by Ammar Raza

Dogecoin (DOGE), the 9th-ranked cryptocurrency, has displayed a bullish performance, echoing its 2021 glory days. The canine-themed digital currency has seen a notable surge of 10.05% in the weekly chart, currently resting at $0.07442. It places it as the second-best performer among the top meme coins, trailing slightly behind Pepe (PEPE), which boasts a 22% rise in the weekly chart.

For Dogecoin enthusiasts, memories of its unprecedented surge to $0.07 in 2021, marking a staggering 13,506% all-time increase at $0.56, are still fresh. With the current price hovering around that crucial mark, speculation arises about the potential for a new rally. Analysts suggest that the trajectory of Dogecoin’s next move might be intricately tied to Bitcoin’s movements in 2024.

DOGE 1Y graph coinmarketcap
Source: CoinMarketcap

Crypto analyst Crypto Kaleo shares insights on the potential future of DOGE. He outlined his playbook in a tweet, stating, “Sometime in the next week or two, Dogecoin finally starts to move. When DOGE starts moving higher, it usually moves pretty fast.” 

Kaleo speculates a swift climb to the range of 9 to 10 cents, followed by a period of consolidation and then another surge to around 15 cents. While acknowledging the potential for a higher climb, he remains cautious, expressing doubts about Dogecoin surpassing the twenty-cent mark in this rally. The analyst also highlights a significant resistance level on the Bitcoin pair at 550 sats.

Here's my playbook for $DOGE:

Sometime in the next week or two, Dogecoin finally starts to move.

When DOGE starts moving higher, it usually moves pretty fast. I wouldn't be surprised to see a daily from here to somewhere in the 9 – 10 cents range, chop there for a bit, then… pic.twitter.com/BN1AqSe8d2

— K A L E O (@CryptoKaleo) November 9, 2023

Analyst Perspectives: Dogecoin Bullish Predictions Clash

Contrary opinions emerge within the analyst community, with Captain Faibik confidently proclaiming, “DOGE Bull run has officially started. Dogecoin could reach $1 within the next 6 months. Mark my words.” Meanwhile, analyst Naemrr maintains a bullish outlook on the DOGE/BTC pair, emphasizing that nothing has changed in that regard.

image 41 2

As the debate among analysts intensifies, Dogecoin’s appeal extends beyond its potential price movements. Analysts like Naemrr underscore the coin’s leading position in low-energy consumption transfers against Tether (DOGE/USDT). The sentiment is echoed by others who emphasize the importance of playing smart with trades and maintaining strong risk management strategies.

https://twitter.com/xnaeemrr/status/1722847745088627055

While the future of Dogecoin remains uncertain, one thing is clear: the meme-inspired cryptocurrency continues to captivate the crypto community, with speculations rife about whether it is poised to replicate its 2021 feat or carve a unique path in the ever-evolving digital currency landscape.

Related Related | CoinSpot, Australia’s Largest Crypto Exchange, Faces $2.4 Million Hot Wallet Hack

Filed Under: News, Altcoin News Tagged With: Bitcoin (BTC), Cryptocurrency, Dogecoin (DOGE), Price Analysis

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