Dogecoin Above $0.1? Crypto Analyst Lists Reasons Why DOGE Price Will Continue To Rally
December 08 2023 - 2:00PM
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Dogecoin (DOGE) has been up close to 75% in the last 45 days and if
one analyst’s projection is anything to go by, this rally isn’t
coming to an end anytime soon. This comes at a time when many are
hoping that DOGE can hit the $0.10 mark and possibly reach new
highs. Why DOGE’s Future Is Bullish In a video posted
on his YouTube Channel, crypto analyst Austin Hilton highlighted
Dogecoin’s significant gain in the last 45 days and discussed the
future trajectory of the meme coin. Austin sounded so bullish on
DOGE as he gave reasons why he believes this rally will
continue. Related Reading: Shiba Inu Team Unveils Enhanced
SHIB And BONE Burns, What This Means Firstly, he alluded to the
fact that the crypto market as a whole was currently enjoying an
upward trend as liquidity was flowing into the ecosystem. He noted
that Bitcoin and other major altcoins have picked up as a result of
this. DOGE hasn’t been left behind, as the meme coin is also riding
this wave. With this in mind, he believes that Dogecoin will
continue to rise as more liquidity is expected to flow into
altcoins like the meme coin. He attributed these inflows to the
bullishness around Spot Bitcoin ETFs, which many expect the SEC to
approve in January. The second reason why he is bullish on
DOGE’s future is based on his assertion that December happens to be
“very, very good” for crypto. As such, he doesn’t expect this
December to be any different. So far, this month has undoubtedly
been good for the crypto market, and this momentum is likely to
continue as many position themselves ahead of January. DOGE
price recovers toward $0.1 | Source: DOGEUSD on Tradingview.com
Dogecoin Also Looking Good On The Charts Several crypto analysts
have also weighed in on DOGE’s future trajectory from a technical
analysis perspective. Based on their projections, the meme coin
could end the year on a high and possibly enjoy similar gains to
the one it enjoyed in 2021. Related Reading: Ethereum Whale
With Over $60 Million In Unrealized Profits Moves Coins To Exchange
Specifically, crypto analyst JD recently noted that Dogecoin’s MACD
(Moving Average Convergence Divergence) was on the verge of having
another bullish cross. The last time this happened was in 2021,
which led to the meme coin seeing a 370x gain in its price. Based
on the chart that JD shared, this bullish cross could happen again
in 2024. Based on another crypto analyst’s projections, Dogecoin
could gain over 900% in a move that will see it rise to $0.7, And
2024 is also predicted to be the year that this could happen. The
fundamentals also complement these technical analyses as there are
plans in place to send DOGE to the moon (and up the charts). At the
time of writing, DOGE is trading at $0.09, up by over 1.50%,
according to data from CoinMarketCap. Featured image from The Coin
Republic, chart from Tradingview.com
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