Crypto trader Melika accurately foresaw Dogecoin's price reaching $0.3 in October, identifying a bullish cup-and-handle pattern as a signal. This pattern often suggests a continuation of upward trends, with potential targets reaching as high as $3.80 in the long term.
Melika updated the October analysis, confirming Dogecoin's continued price ascent towards $0.52 and ultimately to $3.80, aligning with observed resistance levels. This projection is supported by another analyst, Dima James, who observes a consistent pattern across market cycles for Dogecoin. This pattern helped Dogecoin achieve remarkable growth in past cycles.
Additionally, analyst Kevin Capital identified Dogecoin's first weekly Golden Cross in four years, a bullish signal where the 50 SMA crosses the 200. Despite a short-term caution, if Bitcoin maintains its upward trend, Dogecoin may follow suit.
Currently, Dogecoin trades around $0.28, reflecting a 25% increase in the past 24 hours, as reported by CoinMarketCap.
