How High Can Dogecoin Price Go in December?

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As a seasoned crypto investor who’s been through the bull runs of 2017 and the bearish winter that followed, I can confidently say that Dogecoin is gearing up for some major moves in December. Having witnessed the unpredictable nature of this market firsthand, I’m always cautious about making predictions, but the signs are hard to ignore with DOGE.

Dogecoin saw a significant increase in November, making it one of the top performers among meme coins. This surge in value follows the ongoing bull run in Bitcoin and other cryptocurrencies. In the realm of alternative coins, meme coins are leading the charge. This article delves into potential price predictions for Dogecoin as we head into December.

Dogecoin Price Could be Preparing Big Moves in December

Dogecoin seems set for its initial weekly closure in the negative since October, demonstrating the impressive strength of its bullish trend. It’s important to remember that even during powerful market bull runs, pullbacks or corrections like this one are common.

Ali Martinez, a well-known cryptocurrency analyst, predicted a significant bullish explosion for the coin. His forecast suggests the coin could rise to approximately $0.82, representing an increase of about 85% from its current value.

Other experts find reason for optimism following Dogecoin’s price drop when it almost reached a significant barrier at around $0.50. This situation bears resemblance to Bitcoin, which also saw a pullback upon approaching the psychologically significant level of $100,000.

If the price reaches $0.5, there’s a likelihood that it could climb up to $1, according to many analysts. In his latest report, Trader Tardigrade predicts that the coin might surge from $1 to anywhere between $5 and $10 if it successfully breaches this level.

Dogecoin Technical Analysis: Is DOGE Ripe For A Strong Breakout?

Over the course of nearly three years, the weekly graph indicates that Dogecoin’s value has fluctuated within a narrow band, spanning from approximately $0.1 to $0.22. This kind of prolonged movement often signifies a gradual buildup, leading to a powerful surge in bullish trends.

This significant surge in the coin’s value occurred this month when it surpassed its critical resistance at $0.2265, reaching an all-time high for this year in March. It has now slightly exceeded the strongest resistance of the Murray Math Lines, suggesting that it is gaining momentum.

Furthermore, the value of the coin has risen beyond both its 50-week and 100-week moving averages, indicating that the buyers are currently dominating the market. Additionally, there’s evidence suggesting that the Dogecoin price might be shaping up as either a bullish flag pattern or a pennant formation.

Given that the coin has already climbed approximately 155% this month and surpassing this month’s high of $0.49, there’s a greater chance of it reaching $1 by December. This would represent an additional increase of around 145%. Such a jump could be feasible as the coin has shown significant potential for growth.

Should the Dogecoin price dip below the significant support at $0.30 – a crucial turning point for the Murray Math Lines – the current bullish prediction may not hold true. If this occurs, there’s a possibility that the coin could plummet and reevaluate its support at approximately $0.2265.

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2024-11-29 16:14