Dogecoin Set for Major Rally, Analysts Predict $5 Target
- Dogecoins 159% surg sprks rnwd hops for potntil chllng to its ll-tim high of $0.73.
- Analysts prdict Dogecoin could surpss $5 this cycl, citing historicl pttrns nd potntil for xplosiv growth.
- Sntimnts dt suggsts dcrsd wllt ctivity, signling bullish momntum s lrgr invstors buy nd hold DOGE.
Dogecoin hs onc gin cpturd th spotlight in th crypto world. Following stunning 159% surg from Novmbr 6 to Novmbr 12, th populr mm coin hs sttld into priod of highr-rng consolidtion. On Novmbr 18, Dogecoin closd with bullish ngulfing cndl, rigniting hops for pric climb tht could potntilly chllng its ll-tim high of $0.73.
Mrkt spcultion is bing fuld by historicl pttrns. Trdr Trdigrd, notd mrkt nlyst, suggstd in n X post tht Dogecoin might b gring up for nothr xplosiv rlly. Using th Gussin chnnl tool tht idntifis pric trnds within uppr nd lowr bndsh rvld tht DOGE hs gind support from th chnnls mid-bnd for th third tim. Bsd on this pttrn, h confidntly prdictd tht DOGE will xprinc n incrdibl PUMP.
Dogecoin Could Exceed $5 This Cycle
Othr mrkt xprts shr this sntimnt. Javon Marks, trdr, suggsts tht DOGE could rch nw ll-tim highs, potntilly surpssing $0.73905. This would rprsnt nrly 90% incrs, with furthr gins possibl, s prvious cycls in 2016, 2021, nd 2024 indict th potntil for vn highr movmnts. Mrks hs highlightd similritis btwn ths prbolic pric trnds, which could push prics bov $5 in this cycl.
Another crypto trdr, Bark, sttd in Novmbr 19 X post, $DOGE cn sily hit $5 this cycl. Anything lss is dlusionl. His words cho th growing confidnc mong th DOGE community, which is bnking on nothr mtoric ris.
Wallet Activity Signals Bullish Trend
Mnwhil, Santiment, dt nlytics pltform, notd dclin in wllt ctivity ovr th pst dy dvlopmnt oftn prcivd s bullish in on-chin nlysis. According to th Santiment, Whn ntworks ovrll mount of wllts dclins, it is sign of FUD nd cpitultion from novic trdrs tht is oftn bullish indictor for th coins pric.
Currntly, Dogecoin is trding t $0.3892, mrking 1.22% incrs in th pst 24 hours, s pr CoinMrktCp. Erlir in th dy, th coin struggld in th rd but hs sinc shown rsilinc. Whil fcing rsistnc nr $0.40, its trjctory hints t rcliming its 30-dy high of $0.4358 in th nr trm. Additionlly, th Volum-Wightd Avrg Pric (VWAP) of $0.395, positiond bnth th currnt trding pric, indicts robust short-trm dmnd.
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Read more: https://www.tronweekly.com/dogecoin-set-for-major-rally-analysts-predict-5/
Text source: TronWeekly
