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of dogecoin price The company is at a critical juncture, with crypto analysts identifying key price levels that could dictate the next big rally. As the number one meme coin currently trades above $0.34, analysts say: predict If the bullish situation remains favorable, we could see a breakout to $1.4 and the price could crash to new lows if Dogecoin does not reach the critical level.
Dogecoin price: Will it rise or fall?
Dogecoin’s price is on the verge of reaching an all-time high, according to a cryptocurrency analyst at TradingView known as “Mindbloome-Trading.” exponential pump It will push its value past the coveted $1 mark. Cryptocurrency experts presented a video chart analysis and highlighted $0.46. Important resistance level for Dogecoin. This price point coincides with the 0.382 Fibonacci level, which is often a major barrier in technical analysis.
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Market experts at TradingView suggested that Dogecoin could fall if it crosses the $0.46 resistance level. ignite a gathering This takes Memecoin to the next bullish target of $1.4. Such movements are likely to be driven by increased demand; purchasing pressure From investors.
Conversely, analysts shared the following: Dogecoin bearish outlook. He suggested that if Dogecoin fails to sustain the $0.3 support level, the memecoin could be at risk of severe downside. He predicts that DOGE price crash The support level is $0.23, the lowest since 2024.
A fall to the $0.23 level could send a bearish signal to the market. Increased selling pressure and decrease further. Analysts have revealed that Dogecoin is currently in a support phase and its next price movement could determine the direction of its future value.
TradingView's crypto expert shares bullish and bearish price predictions for Dogecoin, while his detailed video chart shows: Dogecoin price movement We highlight the major peaks and troughs of historical volatility from 2020 to 2024. This chart also pinpoints the major support and resistance zones using Fibonacci extensions and retracement levels to predict the next price level of Meme Coin.
What is driving the current trend in Dogecoin?
The current price of Dogecoin is experiencing severe downward momentum Despite multiple bullish forecasts suggesting an imminent rally. The main factors driving Dogecoin bullish sentiment in the cryptocurrency market are the recent President Donald Trump's Inauguration The inauguration as the new President of the United States (US) and the influence of SpaceX and Tesla CEO Elon Musk in establishing a new Department of Government Efficiency (doge) unit.
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Despite bull market expectations, Dogecoin fell 9.64% in one day to trade at $0.34, according to CoinMarketCap. Nevertheless, analysts at popular social media platform X remain bullish, predicting significant price increases in the future.
One thing to note prediction Crypto analyst and Dogecoin supporter David Butler suggests the popular meme coin could rise 100x to $34. Although this prediction may seem quite ambitious, analysts are convinced that a price increase to this level is inevitable.
Featured image from Unsplash, chart from Tradingview.com
