Analyst Predicts Rapid Dogecoin Surge To $1: The Timing May Surprise You

Name	Symbol	Market	Market Cap ($)	Algorithm
Dogecoin	DOGEUSD	Crypto	57,435,522,947	Scrypt

Name

Symbol

Market

Market Cap ($)

Algorithm

Dogecoin

DOGEUSD

Crypto

57,435,522,947

Scrypt

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00942	2.49%	0.38762	0.38762	0.38768

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00942

2.49%

0.38762

0.38768

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.39555	0.36918	0.37901	0.37815	0.070760 - 0.439500

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.39555

0.36918

0.37901

0.37815

0.070760 - 0.439500

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	14:41:10	5,078.82	0.38772	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

14:41:10

5,078.82

0.38772

USD

Price x Volume	Volume	Base Symbol	Related Pairs
196,446,190.70	511,062,022.72	DOGE	DOGEEUR	DOGEGBP	DOGEBTC

Price x Volume

Volume

Base Symbol

Related Pairs

196,446,190.70

511,062,022.72

Analyst Predicts Rapid Dogecoin Surge To $1: The Timing May Surprise You

19/11/2024 2:00pm

NEWSBTC

Crypto analyst Kevin (@Kev_Capital_TA) is projecting a significant surge for the Dogecoin price, anticipating it to reach between $1 and $2 by the end of December or early January. This bullish forecast comes amid skepticism about the current breakout patterns observed in the memecoin. One Last Dip For Dogecoin Price Before $1? Over the past week, from November 12 to 19, Dogecoin formed a falling wedge—a pattern often considered bullish—on the lower timeframes. On November 19, the crypto asset broke out of this formation, prompting some optimism among traders. However, Kevin remains unconvinced about the strength of this move. “This weird little breakout on Dogecoin of this suspect bull flag looks very weak to me,” he stated via X. “Tracking the money flow on smaller time frames and smart investors are not convinced either. If money flow remains stagnant, then my base case of further correction/consolidation becomes more likely. Which, by the way, is more bullish if we just head straight up from here.” Related Reading: How Low Can Dogecoin Go Before Rallying Again? Expert Forecast When asked by an X user whether Dogecoin would surpass $0.40 by mid-December, Kevin responded confidently: “I think we’re at $1-$2 by end of December beginning of January.” Despite his bullish long-term outlook, Kevin still expects continued short-term correction for the Dogecoin price. He cautioned that “a lot of people will be wiped out if this occurs.” He elaborated on his price targets: “My first price target and a level we will want to hold for Dogecoin is the $0.30-$0.26 cent range, which is the golden pocket retrace levels. That’s a 30-40% correction from the local top, which in a bull market is a perfect size correction.” Over the long-term, Kevin foresees much higher price levels. In an analysis leveraging the Pi Cycle Tops Indicator—a tool traditionally applied to Bitcoin—crypto analyst Kevin recently shed light on Dogecoin’s long-term potential market trajectory. The indicator, crucial for pinpointing cycle highs and lows, relies on the crossing of two specific moving averages to signal significant market shifts. The shorter-term moving average (MA) which typically considers the last 111 days of price data. The longer-term MA which averages the last 350 days but multiplies it by two. The indicator’s principle is based on the theory that when these two MAs cross, a potential peak in the market price is imminent, suggesting a sell-off point before a downturn. It’s historically been used in Bitcoin analysis but, as Kevin demonstrates, it can also apply effectively to Dogecoin. Related Reading: Dogecoin Large Transactions Surge 41% With 35% Uptick In Daily Addresses, Will Price Follow? Kevin’s chart covers several years of the Dogecoin price action, clearly marking past cycle highs and lows where the Pi Cycle Indicator has been accurate. Past cycle highs are circled in the chart during January 2018 and May 2021, which coincide with the crossover of the two MAs and corresponding peaks in price. The current price movement shows a significant upward trajectory, and while the two MAs are converging, they have yet to cross. The chart plots a 1.618 Fibonacci extension level at around $4.00. Kevin writes: “One of my secret indicators for Dogecoin that is traditionally only supposed to work for #BTC is the Pi Cycle tops indicator. It has accurately called every DOGE cycle top and bottom over each of its cycles. When the two moving averages cross along with Monthly RSI being at a certain level that’s when I plan on taking significant portions out of the market. As you can see while the moving averages are now heading in the same direction to eventually cross we’re still not very close to crossing indicating we have a lot higher to go first.” At press time, DOGE traded at $0.38. Featured image created with DALL.E, chart from TradingView.com

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