Dogecoin is making headlines again, with analysts predicting a potential price surge. Let’s dive into what’s happening.
A Potential 58% Rocket for Dogecoin?
Crypto analyst Dariusz Kowalczyk thinks Dogecoin could skyrocket by almost 60%! He’s noticed Dogecoin bouncing back from a support level around $0.14-$0.15. This bounce, combined with some positive chart patterns, suggests a possible end to the recent price drop.
Kowalczyk believes that if Dogecoin breaks through the resistance at around $0.17, it could zoom to $0.26. That’s a massive 58% increase! This target price lines up with the highs Dogecoin hit in May. However, this prediction depends on Dogecoin maintaining its upward momentum and breaking through that $0.17 resistance. If it fails to do so, the price could continue to fall.
Another Analyst Weighs In
Another expert, Bitguru, also sees a potential Dogecoin price recovery. Their analysis shows a downtrend throughout June, with the price bottoming out around $0.143. Now, they see $0.163 as a key resistance level. If Dogecoin can break through this, Bitguru predicts a move towards $0.172.
The Bottom Line
Both analysts are suggesting that Dogecoin could see a significant price increase in the short term. However, it’s crucial to remember that these are predictions, and the cryptocurrency market is notoriously volatile. Nothing is guaranteed. Always do your own research before investing in any cryptocurrency.