Key Takeaways
- Dogecoin (DOGE) could reach $1 as bullish price action resumes with whale activities increasing.
- Crypto analysts speculate that the price of Dogecoin is reaching $2 based on the 6M (six-month) price chart.
- Dogecoin’s trading above the 50-day and 200-day EMAs shows that bulls dominate the price, as bullish price action could lead to $1.
The cryptocurrency market is witnessing key events ahead of the year that could shape it for many years. Many reports suggest Donald Trump will prioritize cryptocurrency as a national treasure.
With the new administration looking positive to favor the crypto market, there have been signs of XRP dominating the cryptocurrency space, breaking its 7-year high and attempting to break past its previous highs.
Following such positive market expectations, there has been a bounce across the crypto market, with Dogecoin (DOGE) breaking above the key resistance of $0.4. The price could be on course to rally past its all-time high of $0.73 in the coming weeks or months.
The current market expectations and price action for Dogecoin (DOGE) are bullish. The price looks strong and could ride strong as bulls dominate the market.
Crypto Analyst Price Prediction For Dogecoin (DOGE)
Source – Dogecoin (DOGE) Investments_CEO On X
Top crypto analyst Investments_CEO took to his X handle to speculate on the price of Dogecoin (DOGE), which has been breaking out of its range-bound movement for weeks now. DOGE has struggled to break above $0.38, and a previous price breakout failed, with the price of Bitcoin forcing Dogecoin to drop to a region of $0.32. However, the price broke above $0.41.
Investment_CEO has spoken of DOGE heading to $2 following the previous price rally on the 6M (six-month) timeframe. The price of Dogecoin (DOGE) in previous bull cycles remained a huge talking point, and as such, the current Dogecoin (DOGE) price action cannot be overlooked.
Source – Dogecoin Price Action by Traderrocko on X
Traderrocko also took to his handle to express how DOGE could be worth $1 by January 2025, following its price action. The market is currently buzzing around Dogecoin (DOGE), and with Trump’s Inauguration scheduled for next week, we could see much bullish price action for Dogecoin in the coming weeks.
Technical Analysis – Dogecoin (DOGE) Price Prediction
Source – 4HR DOGE Price Action from TradingView
Dogecoin’s current price action looks bullish, with buy signals suggesting that bulls currently dominate the price. Price trades above its 50-day and 200-day EMAs, looking to rally more to the upside.
The only resistance the price of Dogecoin could face is around $0.48, as the price would rally to its previous all-time high of $0.73, with many speculators predicting a price of $1.
Technical indicators predictions:
MACD (Moving Average Convergence Divergence) – Bullish
RSI (Relative Strength Index) – Trades above 60
Key DOGE Support Zone – $0.3
