Dogecoin, the popular meme coin, has been making headlines lately with experts predicting a potential breakout.
Dogegod’s Bullish Prediction
Dogegod, a well-known crypto trader, believes Dogecoin is poised for a significant price surge. He points to the coin’s long period of consolidation, where it has maintained a support level of $0.011. If Dogecoin breaks out of this consolidation phase, Dogegod expects it to rally towards $0.30 or even higher.
Master Kenobi Sees Similarities to Past Cycles
Another expert, Master Kenobi, sees parallels between Dogecoin’s current price action and its previous bull run. He notes that in the past, Dogecoin experienced four consecutive green weeks after two weeks of red. The current cycle is mirroring this pattern, leading Kenobi to believe that the bull run has already begun.
On-Chain Activity Signals Growing Interest
These bullish predictions are backed by a surge in on-chain activity. The number of active Dogecoin addresses has recently reached its highest level in eight months, indicating increased interest and participation from both individual and institutional investors.
The Bottom Line
While these experts are optimistic about Dogecoin’s future, it’s important to remember that the crypto market is highly volatile. Investing in cryptocurrencies carries inherent risks, and it’s crucial to conduct thorough research and only invest what you can afford to lose.
