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Dogecoin Price Gearing Up For Major Explosive Rally – Why $1 Is Still In The Cards
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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Dogecoin Price Gearing Up For Major Explosive Rally – Why $1 Is Still In The Cards

Scott Matherson
Scott Matherson
2 weeks ago
2 mins read
Dogecoin

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The Dogecoin price has seen a major rebound recently, which has brought it above the $0.23 resistance over the weekend. This upward move looks to have been sustained as buyers have regained power over the market in the last week. Despite the already notable rally that the meme coin has enjoyed recently, expectations remain that it will continue to rise higher, with crypto analysts predicting an explosive rally for the altcoin.

Dogecoin Price Remains Very Bullish

Pseudonymous crypto analyst MMBTtrader on the TradingView website has outlined that the Dogecoin price remains highly bullish. The current pump is expected to continue as Dogecoin has yet to hit any major resistance, thus setting it on a path to possibly double.

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As the crypto analyst points out, the Dogecoin price could likely see a correction after rising so much recently. However, this is expected to only be short-term and would, in fact, fuel the rally and serve as a bounce-off point for further rallies. This corruption could happen just below $0.25. However, the analyst does point out that with the Dogecoin price being so bullish, it is possible that it rises higher than this level before the correction happens.

Presently, the only thing holding the Dogecoin price back is the trend line outlined in red in the analyst’s chart. This serves as a deciding point for the meme coin, and a break above it is expected to push the price forward. In this case, the crypto analyst expects it to rise as high as $0.4. Additionally, they add that if it breaks above $0.4, it would signal an extremely bullish market, pushing the Dogecoin price toward $0.75, and then $1.

Dogecoin price
Source: TradingView

On the other hand, though, a failure to break above the trend line could signal the beginning of bearish pressure. As the chart shows, the first bearish stop would be at $0.13548. Further downtrend could then send it below $0.1 to $0.09024.

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DOGE Still Shooting For $1

Another crypto analyst has also suggested that the Dogecoin price could be heading for the $1 target. They explain that after the strong bounce of the $0.14 support, Dogecoin is now showing signs of a bullish reversal on the weekly timeframe. This casts a wider net for targets for the meme coin’s price as the uptrend plays out.

Dogecoin price
Source: TradingView

From here, the crypto analyst explains that if the Dogecoin price can hold, then the next main target is $1. For this to happen, though, volume confirmation and how the price performs in the next few weeks are crucial. “DOGE might just be gearing up for another historic run,” the analyst said.

Dogecoin price chart from TradingView.com
DOGE bulls push above $0.24 | Source: DOGEUSDT on TradingView.com
Featured image from Dall.E, chart from TradingView.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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