Dogecoin Breakout Alert: Analyst Maps Out Over 2,000% Rally Ahead

Name	Symbol	Market	Market Cap ($)	Algorithm
Cardano	ADAUSD	Crypto	25,394,122,342	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Cardano

ADAUSD

Crypto

25,394,122,342

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.0086	-1.20%	0.7085	0.7084	0.7086

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.0086

-1.20%

0.7085

0.7084

0.7086

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.7275	0.7004	0.7172	0.7171	0.275966 - 1.33

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.7275

0.7004

0.7172

0.7171

0.275966 - 1.33

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	12:06:52	38.29	0.7085	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

12:06:52

38.29

0.7085

USD

Price x Volume	Volume	Base Symbol	Related Pairs
15,608,356.65	21,903,079.93	ADA	ADAEUR	ADAGBP	ADABTC

Price x Volume

Volume

Base Symbol

Related Pairs

15,608,356.65

21,903,079.93

Dogecoin Breakout Alert: Analyst Maps Out Over 2,000% Rally Ahead

03/12/2024 5:00pm

NEWSBTC

Dogecoin is already making a lot of ripples in the cryptocurrency arena, as experts are pointing to its likely spike that would transform the situation of this meme coin in the market. The currency gained over 160% in November after an outstanding month, with its pattern looking bullish nowadays, hence setting the stage for some profits. Related Reading: Cardano To Hit $10? Analyst Thinks It’s Happening This Cycle Bullish Patterns Indicate Potential Benefits A high-tight flag pattern is appearing on Dogecoin’s price chart, according to new research. This unusual technical pattern usually means that people are strongly hopeful and that a breakout might be coming soon. Trader Tardigrade said that this pattern often comes before big price changes, which makes it an important thing for buyers to keep an eye on. If the pattern stays the same, Dogecoin could hit new highs. Some analysts think it could reach $1, which would be a 155% increase from where it is now. #Dogecoin LTF (2-hour) Symmetrical Triangle perfectly BREAKOUT 🔥 This LTF breakout could starts off another $Doge HTF Bull Rally 🚀 https://t.co/ILfXFVuhEH pic.twitter.com/j1Oc4um9LQ — Trader Tardigrade (@TATrader_Alan) December 1, 2024 More ambitious targets also speak of even more important events. Some predictions are telling of the possibility that this rising trend might push prices from $5 to as much as $10 with Dogecoin. In support of this optimism lies strong market enthusiasm and FOMO at the retail investor level. Because this excitement is building up, many are waiting to know whether Dogecoin might breach its current consolidation range. Market Sentiment & Technical Indicators People still think that Dogecoin will go up in value, and there are a number of important signs that back this view. The Relative Strength Index (RSI) is at 61.86, which means that the price has stayed in the positive trend even though it has fallen from its previous highs. This could mean that the price will now settle down for a short time. Dogecoin’s price is also above its 50-, 100-, and 200-day exponential moving averages (EMAs), which supports the upward trend. However, attention needs to be focused on critical support levels. To continue on an upward path, Dogecoin will need to remain above $0.35 and penetrate resistance at $0.45. A successful breach could open the doors to higher price action and further cement a bullish narrative. Related Reading: Shiba Inu All Set For ‘Bull Show’, Eyes 180% Rally – Analyst Just when I thought I couldn’t be more bullish on #Dogecoin $DOGE, this chart says otherwise! 👀👀 #DOGE might be ready for a 2,400% rally against #Bitcoin $BTC. pic.twitter.com/lHdBNrqXz5 — Ali (@ali_charts) November 30, 2024 The Bigger Picture For Dogecoin The growing evolution of the cryptocurrency market places more scrutiny of Dogecoin performance versus Bitcoin. Some analysts expect that in the coming months if this trend will continue, it will have Dogecoin overperform Bitcoin by 2,400%. The formation of these bullish patterns has been in a progressive pattern, while overall market dynamics favor altcoins. Meanwhile, it is anticipated that Dogecoin will conclude the year by trading within a trading channel that spans $ 0.385819 and $ 0.41998. This would result in a -4.16% decrease in the price of DOGE in comparison to the current price, presuming that the average price in December was $0.398415. In other words, short sellers would have the potential to earn a profit of 7.19% if DOGE adheres to the prediction. Featured image from Pexels, chart from TradingView

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