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Analyst Predicts Rapid Dogecoin Surge To $1: The Timing May Surprise You Newsbtc 19 nov 2024

Analyst Predicts Rapid Dogecoin Surge To $1: The Timing May Surprise You 🚀

Crypto analyst Kevin forecasts a significant surge for Dogecoin, predicting its price to reach $1-$2 by the end of December or early January, despite skepticism about current breakout patterns. Dogecoin formed a falling wedge, a typically bullish pattern, but the breakout seemed weak to some experts.

Kevin expressed doubt about the breakout's strength and forecasted further correction or consolidation in the short term, which he believes could be beneficial. He anticipates a potential short-term price drop to $0.30-$0.26 before a larger rally.

Long-term, Kevin uses the Pi Cycle Tops Indicator to project higher price levels for Dogecoin. Traditionally used for Bitcoin, this tool can predict market cycle peaks by analyzing the crossing of specific moving averages.

Kevin's chart indicates converging moving averages without a current crossover, suggesting significant upward potential is still available for Dogecoin. At press time, DOGE is trading at $0.38.

Fonte: www.newsbtc.com ↗

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