Dogecoin has had a modest October. The token showed no bullish signs of price surges
or peaks, although attempts were made to aim for high price spots. Despite its slow price pace, several analysts continue to expect Doge to break out, with one noteworthy analyst sharing how Doge has the potential to embrace the bullish onset of the market very soon.
Also Read: Bitcoin Reclaims $71,000: Will BTC Hit A New Peak This Week?
Dogecoin To Claim $0.175, Analyst Predicts
Dogecoin is one of the leading cryptocurrencies to exist in the market. The token is fondly referred to as Tesla chief Elon Musk’s favorite, as Musk has often been noted making comments about Doge in his speeches every once in a while.
These impromptu mentions have helped Dogecoin encounter occasional price spikes. However, 2024 was relatively slow for Doge. The token did not display any noteworthy price action, leading investors to wonder whether the token would ever embrace bullish momentum.
With Bitcoin claiming a new high of $70K, Dogecoin’s prospects of embracing a new high have gained incredible momentum. Amid this, Ali, a notable cryptocurrency analyst, took to X to share a detailed analysis, adding how Doge is attempting to scale high on the price radar.
Ali shared a post on X, adding that Dogecoin is trying to break out and may soon sit at a new price high of $0.175. However, this would be a critical move for the token, as Doge will be tested at the level of $0.139. If the token manages to hold the support well, it may very well breakout and show stellar price momentum in the near future.
“#Dogecoin $DOGE looks like it is breaking out! Target $0.175, if the $0.139 support holds.”
Also Read: Apple: APPL Launches 1st Batch of AI Tools as Race to $4T Begins
The Token’s Price Forecast for November
Dogecoin is currently at $0.16, up 13% in the last 24 hours. Per CoinCodex, the token may see a slight decline in November 2024. It may sit at a low of $0.13. However, if the support line holds as Ali predicted, the token may note a notable price spike soon.
“According to our current Dogecoin price prediction, the price of Dogecoin is predicted to drop by -13.56% and reach $0.139594 by November 28, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 69 (greed). Dogecoin recorded 18/30 (60%) green days with 11.76% price volatility over the last 30 days. Based on the Dogecoin forecast, it’s now a good time to buy Dogecoin.”
Also Read: Tesla (TSLA) Enters Growth Phase: Musk Predicts 30% 2025 Boost
Credit: Source link
