The fuse is lit again, my people! An analyst who goes by the name Master Ananda took a look at the charts and says Dogecoin is gaining altitude for an epic takeoff. The last time it did something like this, in 2020, it rose by 65,527% and reached its peak of $0.74. Crazy! Now, after a consolidation phase of over 1,000 days, it seems that history could repeat itself.
The analyst is seeing a strong rise since October 2023 and has his eyes on several key levels. First, the goal is to reach $0.47 in a month. Then, to touch its all-time high of $0.74 again. But the real game begins if it goes beyond that, with the next level at $1.16. If the momentum continues as before, we could see a jump to $1.85 and, the big prize, $2.55.
But be careful, it's not just about the numbers. The news that has everyone wide-eyed is that Grayscale, one of the largest investment companies, is asking the SEC for permission to convert its Dogecoin Trust into an ETF. What does that mean? That large investors and ordinary people could buy Dogecoin in a much easier and safer way, without having to deal with cryptocurrency rolls directly. This could open the doors to a flood of institutional money and make the price soar. Other companies like Bitwise are also in the race for this first Dogecoin ETF, so the competition is heating up.
For now, Dogecoin remains calm, hovering around $0.23. But the thing is that its price is above the moving averages, which is a sign that the trend is still positive. The party hasn't fully started yet, but the atmosphere is ready. We need to stay alert to see if this little dog turns into a market shark.$DOGE
