Key Takeaways
- Dogecoin’s (DOGE) price has reclaimed the key demand zone of $0.255, following a market gain over the last two days.
- A bullish price action on a higher timeframe suggests that the price of memecoin could maintain a rally to its key resistance level of $0.32.
- Crypto experts speculate that an 8X potential for the memecoin is possible, given the similarity to the 2021 bull market vibes.
The Dogecoin (DOGE) price prediction for the coming few months is back in the spotlight once more, following recent market sentiment, which has gained a boost as the price of the memecoin has rallied by over 10% in the first two days of October.
The memecoin is back trading above $0.255 with a gain of over 5% in the last 24 hours, boasting a market capitalization of $ 38.5 billion. As altcoins and memecoin have a strong market chance of trading to new highs in the coming weeks to months, the general market is expected to follow suit.
With the price of BTC trading above $119,600, speculation suggests a rally towards $140,000 by the end of October, as the price has historically performed best in this month. Additionally, altcoins could benefit from such a rally.
Building on current market sentiment, a comparison of a possible 8X for DOGE is circulating in the media. Such a rally could see the price trade around $2.
Is DOGE 8X Rally Realistic for Price?
The magic of Q4 could be playing out for the crypto market, as the prices of altcoins and memecoins are rallying, with crypto experts drawing a clear comparison to a potential bull market replicating 2021. As a result, the price is expected to experience significant growth in the coming months.
Following such expectations and predictions, 0xReflection, a cryptocurrency trader, predicts that DOGE has the potential to rally toward new all-time highs, referencing the 2021 bull cycle, during which the price of the memecoin surged by over 8 times in a single day.
If the current market sentiment and volume continue for the month, we could see the price trade towards potential new highs and the market enjoy strong volatility.
Price Analysis and Expert Prediction
Source – DOGE Price Chart from CoinMarketCap
The price of the memecoin is currently rallying to the upside, reaching $0.3, following a sharp decline as the price failed to protect this zone. If the price of DOGE closes above $0.3 with strong volume, it could attempt a rally to a new all-time high.
Overall market price action for the memecoin is bullish; however, the certainty of a potential 8X gain for its price cannot be determined as the price continues to demonstrate bullish potential for an upside rally.
FAQs
How much is DOGE right now?
The price of the memecoin currently trades above $0.254 at the point of writing.
How much is $500 worth of Dogecoin right now?
$500 worth of DOGE will be around 2100 at the current price of $0.255.
Does Dogecoin have a future?
Speculation suggests that the memecoin has a promising future, with the potential to reach over $1 in the coming months.
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