Dogecoin About to Take Off in a Calm Market
A researcher believes that the recent drop in Dogecoin (DOGE) may be an opportunity. The meme coin is currently trading at approximately $0.22, but the expert predicts a strong increase that could surprise the market.
As media cycles return to meme-based cryptocurrencies, the lack of noise and attention may herald a lull before the storm.
An analyst's review shows that Dogecoin will hit a significant resistance point at $0.202. If Dogecoin surpasses this level with high volume, Cryptohossel expects its price to rise towards $0.30.
After reaching this target, the analyst forecasts a rapid ascent towards $0.32, the next significant resistance zone on the price chart. The huge green arrow on the chart suggests a parabolic increase after the breakout.
Dogecoin could have great gains again when the market heats up and speculative interest shifts and demand increases. This optimistic outlook makes sense given the meme coin's history of strong moves driven by retail excitement and viral noise.
The expert urged traders not to overlook “the biggest meme in the universe,” indicating that Dogecoin’s calm period may lead to an explosive rebound.
Blockchain Baller said that $0.31 will be the next breakout level. She notes that momentum typically swings at this level, causing retail traders to re-enter the market.
Blockchain Baller advises traders not to rush into the Dogecoin market despite her positive outlook. She emphasizes the need to monitor Dogecoin's price for signs of an increase.
