Analysts estimate: A 500 percent increase in Dogecoin's price is expected, with a target price of one dollar.
Renowned analyst VisionPulsed has predicted that Dogecoin's current weak performance is actually preparing for a major and significant price increase.
According to them, the price of Dogecoin could reach approximately 90 cents to one dollar in the next few months, which would be an increase of about 500 percent compared to the current price of 17 to 20 cents.
VisionPulsed
has based its prediction on the Hash Rebounds indicator, which helps understand miner activity and market conditions.
Historically, this indicator has also indicated positive changes in the market for Bitcoin.
This time, the Hash Rebounds indicator has indicated miners' weakness twice, causing the market to withstand pressure twice, indicating a positive trend.
Additionally, there are four major macroeconomic factors such as the Euro-Dollar relationship, an increase in global M2 money supply, the period following Bitcoin's April halving, and the S&P 500 closing at record levels that indicate an overall market increase is expected.
Although Dogecoin's stochastic RSI is still in the oversold zone, the analyst says that when it reverses, a rapid and significant price increase will be observed.
Currently, Dogecoin has been stable within a limited price range for almost three months, which according to VisionPulsed is a pressure state, and as this pressure increases, a sudden and significant price increase is also expected.
They estimate that this significant increase could occur between October and December, coinciding with the peak of Bitcoin's historical fourth-year cycle.
According to this prediction, this increase could potentially be the last and largest of this cycle.
Currently, the price of Dogecoin is approximately 18 cents, and if this analysis proves correct, this could be a significant investment opportunity for investors ....
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This is news, this is an analysis.
This could be wrong and it could also be right!
So remember that this is not financial advice.
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