Analyst Says Dogecoin Price At $1.3-$1.5 Is Still Possible, Here’s Why

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As a seasoned crypto investor with over a decade of experience in the digital asset market, I have witnessed numerous price surges and corrections. However, the recent bullish prediction for Dogecoin by analyst Kevin (@Kev_Capital_TA) has piqued my interest. Having followed his analysis since its early days, I’ve learned to trust his insights. His macro chart analysis aligns with the current market sentiment, making a strong case for the $1.30-$1.50 price range as a viable target.

The price of Dogecoin has persisted in its tight holding pattern slightly under the $0.44 mark, yet optimism about its value remains at a record high over the past few years. Cryptocurrency analyst Kevin, often recognized on social media as @Kev_Capital_TA, recently expressed an enhanced viewpoint that Dogecoin’s price could follow an upward trend. He still considers the range between $1.30 and $1.50 to be a potential target. In his latest post, he highlighted this price region as a pivotal spot on his large-scale chart, consistent with the current bullish outlook towards Dogecoin in the market.

Revisiting Kevin’s Macro Analysis And Earlier Projections

According to Kevin’s recent analysis (from September 18), this optimistic outlook about Dogecoin’s price is based on a technical pattern that occurred when it approached a golden cross on the weekly chart for the first time in four years. This specific pattern is generally interpreted as an indication of continuous bullish strength.

In retrospect, I was advised that the trajectory of Dogecoin’s price during this cycle could potentially reach prices between $0.93 for a moderate growth scenario and an impressive $3.80 in a robust market environment. Remarkably, these projections suggest that Dogecoin could break new ground, surpassing its 2021 peak prices.

Back then, the Dogecoin value was being exchanged for approximately $0.10 and was poised to surpass the upper boundary of a downward trending channel. Since that point, it has climbed as high as $0.44, representing a 340% rise in value.

After the analysis was completed, the meme coin has shown a ‘golden cross’, which suggests a robust bullish trend in its price movement. Kevin’s revised prediction of $1.30-$1.50 serves as an average indicating both the current trend and the coin’s potential for further growth under beneficial circumstances.

The Path To $1.5

According to Kevin’s perspective, the chart trends and overall market mood bolster his optimism regarding Dogecoin. As I write this, the price of Dogecoin stands at approximately $0.4237, representing a decrease of around 2.5% in the last 24 hours following its recent high of $0.44. It’s worth noting that this latest high marks Dogecoin’s highest point since May 2021.

If the stock price rises to either $1.30 or $1.50, it would mean an increase of approximately 172% or 240% from where it is now. But before that, we need a significant jump over $0.44, followed by another leap surpassing its current record high of $0.7316.

Over the last six weeks, Dogecoin has surged by an impressive 330%, showing promising signs of consistent expansion. This growth is being driven by market trends and technical signals. Dogecoin supporters are anxiously waiting for the upcoming speech by Elon Musk and Vivek Ramaswamy from the Department Of Government Efficiency, which is scheduled for December 5 in Congress, to see its potential impact on the coin’s future trajectory.

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2024-12-03 23:10