Can Dogecoin Price Reach $1 By Year End? Here’s What The Fibonacci Levels Say

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As a seasoned researcher with a knack for deciphering market trends and a personal history of navigating the volatile cryptocurrency landscape, I find the recent predictions regarding Dogecoin’s potential price surge to $1 by year-end intriguing. While it’s crucial to approach such forecasts with a grain of salt, given the inherent unpredictability of crypto markets, the convergence of opinions from reputable analysts like Dj Anas, Swallow Premium, Master Kenobi, and Trader Tardigrade is indeed compelling.

To date, the $1 mark has been seen as a significant psychological milestone that many market participants anticipate Dogecoin‘s price will hit during this bull run. According to crypto expert Dj Anas, however, it is possible for Dogecoin to surpass this target and potentially reach it by the end of the year when considering its Fibonacci levels.

Fibonacci Levels Show That The Dogecoin Price Can Reach $1 By Year-End

In a recent TradingView post, crypto analyst Dj Anas suggested that the price of Dogecoin might reach $1 by the end of this year. According to Fibonacci levels, he noted that Dogecoin is experiencing a strong surge at its support-resistance level, which lies between $0.25 and $0.27. This level could serve as a robust base for the coin’s price to potentially climb towards the projected target of $1.

According to crypto expert Swallow Premium, for Dogecoin to hit its projected year-end goal, it must first shatter multiple price barriers.

Similarly to Dj Anas, crypto expert Master Kenobi – who accurately predicted the beginning of the Dogecoin bull run – has also speculated that the value of Dogecoin could reach $1 by the end of this year. This is based on his recent disclosure that Dogecoin was nearly done with a 91-day pattern, which might trigger a price surge towards $1.

Kenobi, in his continued explanation, pointed out that the current record high (peak) of Dogecoin has slightly surpassed the psychological barrier of a $100 billion market capitalization. This significant milestone might serve as a catalyst, potentially driving the price of Dogecoin towards this target. A chart he presented suggests that by December 2, Dogecoin could possibly reach a dollar in value.

Master Kenobi emphasized that the $1 target for Dogecoin isn’t just a significant psychological barrier, but also a crucial milestone that underscores the potential of DOGE. He explained that surpassing $1 would signify a new phase in the meme coin’s evolution and strengthen its standing as a lasting impact asset.

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. 

In the year 2017’s bull market, the Dogecoin price skyrocketed an astounding 1,000% over eight months. Given this past performance, there’s a possibility that Dogecoin could experience another dramatic surge, as it did in both 2017 and 2021. The analyst’s chart suggests that if Dogecoin repeats its 1,000% gain from 2017, the price could reach around $3.6. If it replicates its staggering 8,000% surge from 2021, the price might soar as high as $26.

Currently, as I’m typing this, the value of Dogecoin is approximately $0.36 per coin. However, it has experienced a decrease of more than 12% within the past 24 hours, based on information from CoinMarketCap.

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2024-11-13 20:10