The cryptocurrency market is once again abuzz with excitement, and Dogecoin $DOGE GE, the popular meme cryptocurrency, is at the center of it. According to prominent analyst “WSB Trader Rocko,” now could be the final opportunity to buy DOGE below $0.40.
With the cryptocurrency market showing signs of life as President-elect Donald Trump’s inauguration approaches, Rocko believes Dogecoin is poised for a major breakout. In a recent post on X, Rocko stated that Dogecoin is unlikely to trade below the $0.40 level going forward, adding fuel to the growing optimism surrounding the coin.
More significantly, Rocko predicts a 60% chance that DOGE could hit the coveted $1 price mark by the end of January 2025, based on a double bottom pattern observed on the coin’s chart. The analyst sees two possible price targets: one above DOGE’s all-time high of $0.73 and the other at $1. In addition to the technical charts, Rocko also pointed to the potential influence of Elon Musk, a longtime Dogecoin supporter, in driving its price upwards.
Musk's involvement with the proposed Department of Government Efficiency, humorously dubbed "D.O.G.E.", has led many to believe that the billionaire's connection to the meme coin could play a key role in future price movement.
Other analysts, such as Ali Martinez, are also anticipating a breakout. Martinez suggests that DOGE may be entering the second phase of its parabolic rally, echoing the coin’s explosive growth during the 2021 bull market.
The timing of these predictions aligns with upcoming political events, adding another layer of speculation to Dogecoin’s price potential. At the time of writing, DOGE is trading at $0.3858, up slightly by 2% over the past 24 hours. However, it still has a long way to go to reach the ambitious targets set by analysts.
Investors looking to capitalize on a potential rally may want to act quickly, as this could very well be the last chance to buy Dogecoin below $0.40 before it is expected to rise. Disclaimer: The information provided on this blog is for informational purposes only and should not be construed as financial or investment advice.
Cryptocurrency markets are highly volatile, and past performance is not indicative of future results. Always conduct your own research and consult a professional financial advisor before making any investment decisions.
The opinions expressed by the analysts and contributors mentioned in this article are their own and do not necessarily reflect the views of this blog or its creators.
