Since November 4th, Dogecoin has surged by 170%, reaching a peak of $0.4385 before settling around $0.40. Crypto analyst Kevin highlights concerns about a market correction, suggesting investors approach cautiously.
Kevin mentions taking profits as prices rise, and plans further profit-taking if Dogecoin reaches previous highs or $1. He warns of a potential correction due to overbought conditions as indicated by the Relative Strength Index (RSI).
While maintaining a cautionary stance for short-term corrections, he believes in Dogecoin's long-term potential, indicating optimism by referencing bullish RSI levels. Kevin advises skepticism towards unrealistic price targets proposed by some influencers.
The short-term outlook suggests a possible decline to $0.26-$0.28, with a resurgence expected thereafter. At the time of writing, the price stands at $0.40.
