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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
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Will Dogecoin Soon Soar 15 Times to 4 USD?
Dogecoin (DOGE) remains stable above $0.25 as key support levels are still holding strong. Experts also predict that if this trend continues, the price could surge to $4.10. This figure is equivalent to a 1,438% increase from the current price. Dogecoin price holds important support level The price of Dogecoin is currently trading at $0.2665 with a 5.5% increase in the past 24 hours. Despite the recent monthly decline of 21%, Dogecoin has created positive momentum to push its weekly pattern into the uptrend. Price action shows that DOGE continues to find strong support at the upper boundary of the long-term uptrend line. Analyst Ali Martinez has provided a chart showing that Dogecoin has regained bullish momentum by bouncing back from the crucial support level of $0.19. This level is in line with the 0.786 retreat zone. In addition, market data shows active buying pressure at lower price levels, thus preventing significant price declines. The continuous price increase requires DOGE to maintain a price range between 0.19 and 0.25 dollars.
Potential price increase of 1.438% to $4.10 Furthermore, technical indicators suggest that the price of Dogecoin could see significant growth. A sustained upward move will bring DOGE to the resistance level of $0.739 as it aligns with the 1.00 Fibonacci expansion level. In the previous market cycle, Dogecoin reached this price, the all-time highest in history. According to the Fibonacci forecast, if it can surpass the $0.739 threshold, DOGE will soar to $4.10. The price spike to $4.10 will grow 15 times the current market price. This prediction requires Dogecoin to demonstrate strength at resistance levels while still maintaining above key support areas to prove the upcoming price increase. Market sentiment and price fluctuations in the future It is worth noting that Dogecoin's price behavior has directly responded to the retail investor sentiment and the level of attention from social media users in history. Market participants have observed this trend at the end of 2024 as investor participation has led to an immediate increase in DOGE price. The current price is 58% lower than it was at that time, but traders are closely monitoring signs of the next price increase. If Dogecoin continues to trade above the support level, it may create positive momentum at a higher resistance level. Therefore, a new target level can be achieved. Other long-term forecasts are at $10.04 and $36.32. However, such a price level would require a large market capitalization. Meanwhile, recent analysis indicates that Dogecoin is gaining momentum as it consolidates within a pattern of declining prices increasing. Analysts emphasize that the $0.276 level is a crucial resistance, with the potential for a breakout to trigger $94 million in short liquidations. Increasing open interest and accumulation by whales further strengthen confidence in DOGE's upward price trajectory. DYOR! #Write2Earn #Write&Earn $DOGE {spot}(DOGEUSDT)