According to crypto expert Ali Martinez, the popular meme coin Dogecoin (DOGE) could reach a dollar in value fairly quickly based on his latest assessment.
Dogecoin’s Chart Flashes Buy Signal
Martinez posted on X (previously Twitter) that the TD Sequential indicator signaled a buy opportunity for Dogecoin’s daily chart. This potentially means a one to four day price increase for the meme coin, according to his analysis. Later on X, Martinez expressed a more optimistic viewpoint for DOGE, implying that the positive trend might persist for an extended period.
Martinez pointed out that Dogecoin is exhibiting a familiar pattern again as it currently pauses after bursting free from a descending triangle. According to his assessment, based on historical trends, the meme coin could potentially soar toward $1 within the next few weeks. This perspective reinforces the prevailing sentiment that DOGE has the potential to reach such values.
Some cryptocurrency experts, including Mikybull Crypto, Altcoin Sherpa, and DonAlt, believe that Dogecoin will reach a value of $1 during this bull market at some point. But according to Martinez’s assessment, DOGE‘s ascent to $1 could occur sooner than anticipated.
A major influence on Dogecoin reaching higher prices in the near future is the growing institutional investment in the meme coin. This investment will significantly increase once Coinbase makes DOGE available to its institutional clients on April 29. The degree of bullishness among these institutional investors could result in a substantial influx of funds into Dogecoin’s market, potentially causing additional price increases.
The Only Way For DOGE Is Up
According to crypto expert Myles G in a recent Reddit post, Dogecoin has reached its lowest point and he is confident that this will be the price bottom for the meme coin. Consequently, it’s expected that Dogecoin’s price will continue to rise in the future.
More recently, crypto expert Kevin, previously known as Yomi OG, indicated that a new surge in value for Dogecoin might occur. He expressed his belief that the meme coin had several more weeks of price increase before hitting its target in the ongoing bull market.
In his latest post on X, Kevin stated that if DOGE manages to end the month above $0.16, it will validate the current bullish trend. He explained that such a close would signify a successful retest of the previous bear market support zone and establish a robust monthly momentum, paving the way for further gains.
Currently, Dogecoin is priced at approximately $0.16 during this writing, representing an increase within the previous 24 hours based on CoinMarketCap’s data.
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2024-04-23 01:41