Dogecoin Could Soar 9,000% Despite Recent Setback
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- Dogecoin has lost ground recently but retains a strong monthly performance.
- Analysts project near-term targets between $0.55 and $0.85, with potential long-term gains of 9,000% or more.
- Growing volumes and market patterns suggest DOGE remains poised for another rally.
Dogecoin’s (DOGE) momentum has slowed in recent days, with the meme coin losing 8% in the last 24 hours. Currently trading at $0.3900, this decline has reduced its weekly gain to a modest 2.29%. However, the monthly chart still reflects a stunning 188% rise, keeping optimism alive among analysts.
TradingView analyst MadWhale has set a bullish tone for DOGE’s near-term future. Despite recent consolidation, he predicts a 37% price surge, targeting a breakout to $0.55. His confidence stems from Dogecoin maintaining support above the critical $0.3000 level, derived from Fibonacci retracement analysis.
MadWhale highlights increasing trading volumes and heightened social media activity as additional factors fueling DOGE’s potential rebound. In his view, Dogecoin is primed for a substantial rally once bullish sentiment resurfaces.
Alternative Views on Dogecoin’s Trajectory
Other analysts share an optimistic outlook on Dogecoin’s trajectory. Bluntz views the recent consolidation as part of a Wave 4 correction, setting the stage for a significant parabolic rally, and advises holding off on profit-taking until DOGE hits $1. Similarly, Trader Tardigrade highlights the emergence of a Bull Pennant pattern, projecting a potential rise to $0.85, which would represent a new all-time high for the cryptocurrency.
Looking further ahead, Ali Martinez forecasts a speculative surge of up to 30,000%, pushing DOGE beyond $10. He tempers enthusiasm with a warning of interim corrections ranging from 40% to 50%, echoing patterns from past cycles.
Dogecoin has experienced an 8% drop in the past 24 hours, though it still holds a modest weekly gain of 2.29%. On a broader scale, the meme coin boasts an impressive 188% increase over the past month, with a key support level established at $0.3000.
As analysts debate short-term corrections and long-term aspirations, Dogecoin’s journey continues to captivate the market. The meme coin king may yet surprise investors with its next big move.
