Dogecoin (Doge), the most popular meme coin on the Internet, decreased 13% last week, nervous about many investors coming next. But well -known encryption analyst Crypto Patel believes that a big breakout can proceed. After two weeks of price moving, analysts believe that Dogecoin will soon meet for $ 1.
Let’s dive in detail!
Have you already gained a big profit?
According to PATEL, the price of Dogecoin follows a clear optimistic pattern on the chart. In other words, it is making the highest price, followed by a healthy fullback, and technical traders often find a strong increase.
This kind of pattern shows that the buyer is controlling even after a short -term deep.
Based on the chart of Patel, Dogecoin has already increased 700% in the original entry point and has now increased 68% in the second re -entry area. Patel, on the other hand, sees this as a signal that another big “pump wave” can be formed.
Main level to watch
PATEL also emphasizes the importance of $ 0.22, which Dogecoin recently violated and successfully tested. Increasing this major support indicates that coins have established a solid foundation for additional profits.
Another factor that believes Patel will make Dogecoin higher, is a loyal and active community. Unlike many other Cryptocurrencies, passionate supporters in Dogecoin help maintain their attention and passion, often raising prices at the positive market stage.
In the future, the short -term price target of PATEL is $ 0.5 and $ 1. He is optimistic that if the rally continues, Dogecoin can reach $ 2 and $ 3 in the long run. This outlook is supported by increasing market optimism and Dogecoin’s strong chart performance.
Investor’s second opportunity?
This setting reflects the 2021 rally of the Doge, resulting in a 7,000% surge in similar evacuation. These profits may not be exactly repeated, but the current structure is attracting attention.
For those who missed the first run, it can be a second shot to ride the meme king to a higher level.
Currently, Dogecoin is traded for about $ 0.2177, reflecting a drop of 2%over the last 24 hours.