Dogecoin has surged! It's said that it could increase 15 times and reach $4!
Recently, Dogecoin has been stagnant, and the price has even struggled to surpass $0.25. But there is a cryptocurrency analysis god named Ali Martinez. He looked at the chart and said that Dogecoin could welcome a major explosion, and the increase could reach an astonishing 1500%, directly hitting $4!
He stated that since 2014, Dogecoin has been like a steep road, and the price has fluctuated within a specific range. Now Dogecoin seems to have bounced back from the bottom line. If it can hold the price of $0.19, it could surge to the high resistance of $4.
If this is true, the market capitalization of Dogecoin would have to soar to over $600 billion and could even surpass Ethereum to become the second-largest cryptocurrency!
Moreover, Martinez also said that Dogecoin could rise to $3 in the short term. This price is quite similar to the point where Dogecoin previously recovered.
Although Dogecoin has been somewhat sluggish recently, and its price is below the 50-day moving average, its relative strength index is almost in the oversold region, and it may be about to reverse.
Additionally, there is good news in the regulatory field, such as the U.S. Securities and Exchange Commission approving Grayscale's application, and the New York Stock Exchange is also applying to list a Dogecoin ETF, which could drive the price of Dogecoin up.
In general, the long-term outlook for Dogecoin remains quite optimistic, but the market seems not optimistic in the short term. However, if Dogecoin can maintain that important price level, it could start a major rally, targeting $3 or even $4!
Investors should pay attention to the support level of $0.2395 and the resistance level of $0.3219, as well as new regulatory trends.
Although the market is currently a bit sluggish, the bull market is about to begin.
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