Author
Simon Chandler
Author
Simon Chandler
Share
The Dogecoin price has fallen by 2% in the past 24 hours, with the meme token dropping to $0.2667 on a day of correction for major tokens.
Despite its slip, DOGE remains up by 39% in the past week and by 70% in the last 30 days, after the market benefitted from the passage of the GENIUS Act and growth in ETF inflows.
And what’s particularly bullish for Dogecoin is that it has very recently cleared a key resistance level on its one-week chart, indicating that it has now entered a growth phase.
Given its ongoing popularity as a meme token, and given the overall trajectory of the market right now, this points to a strong Dogecoin price prediction for the rest of the year, and beyond.
Dogecoin Price Prediction: DOGE Clears Key Resistance – $10 Next Target?
Looking at DOGE’s one-week chart, we see that its indicators are beginning to recover from oversold positions.
Its relative strength index (yellow) has recently risen over 50, and looks like it could be on its way to 70 or higher, bringing the Dogecoin price with it.
Perhaps even more encouragingly, Dogecoin’s MACD (orange, blue) is close to turning positive again, after spending several months in a negative position.
And as noted above, the Dogecoin price has cleared the descending channel its tops and bottoms had formed since December.
This is a strong indication of a breakout, although some perspective is in order, since we have seem similar patterns in the past, without a new top emerging.
For instance, its big rally in 2021 saw a peak in the MACD just before July, but subsequent bounces (after July) failed to restore the coin to the ATH it achieved in May.
It’s therefore arguable that something similar could happen this time around, and that despite clearing a resistance level, the Dogecoin price may not return to the $0.466 level it posted in early December.
Despite this possibility, the Dogecoin community is remaining hopeful that the meme token will rise to new highs as a result of this apparent breakout, with some setting a target of $1 before Q4.
This is ambitious, but given that DOGE retains the support of entrepreneur Elon Musk, there’s always a chance that it could benefit from a big pump sooner or later.
Based on this possibility, and based on the assumption that the market will finish 2025 strongly, a more realistic prediction may be $0.4 by Q4, and $0.6 by 2026.
Up to 1000x Leveraged Meme Coin Trading with CoinFutures: Best New Trading Platform
There are multiple options for investors who want to buy or sell Dogecoin, but one of the newest and more interesting is CoinFutures, a leveraged trading platform.
A part of the hugely popular CoinPoker platform and app, CoinFutures invites traders to predict the price action of several leading tokens, including Dogecoin (and BTC, ETH, LTC and TRX).
After depositing funds (via fiat or crypto), users are able to choose whether they think a given crypto will go up or down.
They can then choose how much to wager on this prediction, while also selecting how much leverage to use, so as to multiply their potential winnings (as well as their potential losses).
It’s as simple as that, with users then able to watch as their selected crypto either rises or falls.
They can cash out at any time, while they can also set stop loss orders in order to limit liabilities.
This whole process doesn’t actually involve the purchasing or selling of any crypto, meaning that it gives users exposure to crypto without having to hold any.
Anyone interested in trying CoinFutures can do so by downloading the CoinPoker app, with the platform requiring no KYC or exchange accounts to sign up.
Credit: Source link
