Dogecoin has had a tumultuous 2024, with significant highs followed by some unfortunate lows. However, everything started to change significantly when Elon Musk announced the launch of DOGE department, which internet detectives praised as an organization inspired by Dogecoin itself. As Dogecoin continues to ride this new and unfamiliar surge, will it reach even higher prices? An analyst asserts that it will.
Will Dogecoin Increase by 570%?
Dogecoin is currently one of the most popular cryptocurrencies in this space. This cryptocurrency has had a significant 2024 with new developments that have taken it to new heights. The recent change in political regime in the United States has contributed significantly to the recent increase in Dogecoin, especially with the announcement of Musk and Ramaswamy's Government Efficiency Office, or DOGE, as a new department to monitor government spending and expenses.
Such lucrative developments play a key role in driving the speed of the token. However, one cryptocurrency analyst predicted a strong bull run of Dogecoin in the near future. According to Javon Marks, Doge is still counting on a very high price rally that could soon become a reality.
Marks used X to share a new tweet, referring to the expanded Fibonacci statistics of Doge. He shared that if the price of Doge spikes above the 1.68 Fibonacci expansion level, as it did in one of the previous Doge price cycles, then the token could surge freely, reaching a peak of $2.28 in the process.
This signals that Dogecoin has surged nearly 570% during this period, creating a new price increase.
"Update $DOGE (Dogecoin): History remains unchanged and still indicates a high probability that the price will rise TO and ABOVE the 1.618 Fibonacci extension level, as it has done in every previous cycle, and this time. This will lead to a increase of over 570% from here to $2.28 and above!"
Analysis of the Near Future Price of the Token
In addition to Marks, technical price indicators such as CoinCodex have a different price story to tell. According to CC, Doge may show a slow, steady pace at $0.33 on December 31.
By mid-January, the price could drop further and settle at a low of $0.32.
"Based on our Dogecoin price prediction, Dogecoin is expected to decrease by -7.27% and reach $0.315665 on January 24, 2025. According to our technical indicators, the current sentiment is neutral while the Fear & Greed Index is showing 73 (Greed). Dogecoin has recorded 15/30 (50%) green days with a price volatility of 10.16% in the past 30 days. Based on the Dogecoin forecast, now is a good time to buy Dogecoin."
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Dogecoin: New Price Prediction Says DOGE Will Increase 570% And Reach $2.28
Dogecoin has had a tumultuous 2024, with significant highs followed by some unfortunate lows. However, everything started to change significantly when Elon Musk announced the launch of DOGE department, which internet detectives praised as an organization inspired by Dogecoin itself. As Dogecoin continues to ride this new and unfamiliar surge, will it reach even higher prices? An analyst asserts that it will. Will Dogecoin Increase by 570%? Dogecoin is currently one of the most popular cryptocurrencies in this space. This cryptocurrency has had a significant 2024 with new developments that have taken it to new heights. The recent change in political regime in the United States has contributed significantly to the recent increase in Dogecoin, especially with the announcement of Musk and Ramaswamy's Government Efficiency Office, or DOGE, as a new department to monitor government spending and expenses. Such lucrative developments play a key role in driving the speed of the token. However, one cryptocurrency analyst predicted a strong bull run of Dogecoin in the near future. According to Javon Marks, Doge is still counting on a very high price rally that could soon become a reality. Marks used X to share a new tweet, referring to the expanded Fibonacci statistics of Doge. He shared that if the price of Doge spikes above the 1.68 Fibonacci expansion level, as it did in one of the previous Doge price cycles, then the token could surge freely, reaching a peak of $2.28 in the process. This signals that Dogecoin has surged nearly 570% during this period, creating a new price increase. "Update $DOGE (Dogecoin): History remains unchanged and still indicates a high probability that the price will rise TO and ABOVE the 1.618 Fibonacci extension level, as it has done in every previous cycle, and this time. This will lead to a increase of over 570% from here to $2.28 and above!" Analysis of the Near Future Price of the Token In addition to Marks, technical price indicators such as CoinCodex have a different price story to tell. According to CC, Doge may show a slow, steady pace at $0.33 on December 31.
By mid-January, the price could drop further and settle at a low of $0.32.
"Based on our Dogecoin price prediction, Dogecoin is expected to decrease by -7.27% and reach $0.315665 on January 24, 2025. According to our technical indicators, the current sentiment is neutral while the Fear & Greed Index is showing 73 (Greed). Dogecoin has recorded 15/30 (50%) green days with a price volatility of 10.16% in the past 30 days. Based on the Dogecoin forecast, now is a good time to buy Dogecoin."
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