Can Dogecoin Price Reach $1 By Year End? Here’s What The Fibonacci Levels Say
2024年11月14日 - 2:00AM
NEWSBTC
So far, the $1 target has been a psychological level that market
participants expect the Dogecoin price to reach in this bull run.
Based on Dogecoin’s Fibonacci levels, crypto analyst Dj Anas has
predicted that the foremost meme coin could even reach this target
by year-end. Fibonacci Levels Show That The Dogecoin Price
Can Reach $1 By Year-End In a TradingView post, crypto analyst Dj
Anas cited Dogecoin’s Fibonacci levels as why he believed the price
could reach $1 by year-end. Based on the Fibonacci levels, The
analyst remarked that Dogecoin is witnessing a solid push on the
support-resistance line between $0.25 and $0.27, which could act as
a solid foundation for the upward movement to the $1 target.
Related Reading: Bitcoin Price Prediction: Analyst Sets $320,000
Target As Wave 5 Begins Crypto analyst Swallow Premium responded to
the post and warned that the Dogecoin price would have to break
many resistance levels first if it is to reach this target by
year-end. Meanwhile, like Dj Anas, crypto analyst Master
Kenobi, who correctly predicted the start of the Dogecoin bull run,
has also suggested that the Dogecoin price can reach $1 by
year-end. This came as he revealed that Dogecoin was less than 30
days away from completing a 91-day sequence which could lead to the
price rally to $1. Master Kenobi further explained that
Dogecoin’s current all-time high (ATH) is already slightly above
the psychological threshold of a $100 billion market cap, which
could propel the Dogecoin price to this target. The accompanying
chart he shared shows that DOGE could reach $1 by December 2.
Master Kenobi said that the $1 target for the Dogecoin price isn’t
just an important psychological threshold but also a major
benchmark that validates DOGE’s potential. He added that reaching
$1 would mark a new stage in the meme coin’s maturity and solidify
its position as an asset with lasting impact. The Next Four
Months Could Be Huge For DOGE In an X post, crypto analyst Trader
Tardigrade suggested that the next four months could be huge for
the Dogecoin price. This came as he revealed that Dogecoin had just
surpassed its previous highest monthly close level. The last time
this happened, the Dogecoin price recorded a gain of 8,000% in just
four months. Related Reading: Shiba Inu Burn Rate Crashes 82%
Despite Recovery, Can SHIB Price Still Make It To $0.00008 ATH?
Meanwhile, during the 2017 bull run, when this happened, the DOGE
price rallied by 1,000% in eight months. As such, Dogecoin could
again witness a parabolic rally, just like in 2017 and 2021. The
analyst’s accompanying chart showed that the Dogecoin price could
rise to $3.6 if it mirrors the 1,000% gain from 2017 and rally to
$26 if it mirrors the 8,000% gain from 2021. At the time of
writing, the Dogecoin price is trading at around $0.36, down over
12% in the last 24 hours, according to data from
CoinMarketCap. Featured image created with Dall.E, chart from
Tradingview.com
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