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Price Analysis

Dogecoin Fans Expect DOGE/USDT to Reach $3 after a 268X Rally




So much rave for what some folks say is a “joke” coin.

Here’s some perspective on how a moneymaker Dogecoin is. For long-term holders, those who held the coin and partaking in the joke, DOGE is up over 268X year-to-date.

The fun don’t stop.

If you got in early last month, buying in FOMO, you are neck-deep in green. DOGE is up a massive 10X. Week-to-date, the coin’s price has more than doubled, adding double-digits on the last day alone.

It is pretty surreal for holders.

At spot rates, DOGE has outperformed both BTC and ETH, hands down. And of course, if you thought DOGE is a joke. Traders have to re-assess their prognosis.

From DOGE/USDT price action, technical analysts’ bearish projections of late April have been pulverized.

DOGE isn’t driven by technical analysis and candlestick set-ups. The sustaining force herein are determined traders, keen on keeping DOGE prices elevated towards parity with the USD.

That appeared to be a long shot but now seems feasible. DOGE is on its way to $1, and the wave, if anything, could see the coin blast above $1.

Accordingly, traders across the board are excited. Most expect a moonshot, a surge like no other.

DOGE/USDT Bulls Angling for $0.90

In Trading View, one trader thinks Dogecoin is getting started. Following his assessment, DOGE/USDT prices just broke above a pennant. Therefore, CryptoGuru369, believes the next feasible target for DOGE is $0.90 in the next few sessions.

CryptoGuru369--Dogecoin Price

The trader cites the influx of celebrities—especially Elon Musk’s triggering tweets, as DOGE’s drivers.

Despite the correction of late April, which forced DOGE prices to around $0.50, there are more upsides for the coin.

Pasting the Fibonacci extension tool on the coin’s price action places DOGE/USDT price targets at $0.80 and $0.90. The latter, following his prognosis, flashes perfectly with the length of the bull flag’s pole.

If that is the case, it appears that there is more opportunity for traders to buy the dips in lower time frames.

Elon appearance on Saturday Night live as the DogeFather will Push DOGE to $0.80

Aforementioned, the DOGE/USDT price has, on several occasions, binned technical candlestick arrangements. Hype is the primary driver and Elon Musk—the world’s richest man—is in the driving seat.

For this reason, CryptoResearchExpert on Trading View said DOGE would tear up on May 8 when Elon makes an appearance on Saturday Night Live–a popular American Comedy show, as the DogeFather.

CryptoResearchExpert--Dogecoin Price

Primarily because of this—and calling himself the DogeFather, DOGE traders expect a blast to $0.80, possibly $1.

All along, the EMA-50 in the DOGE/USDT 1-HR chart will act as a strong support level and a loading opportunity for swing traders.

DOGE is HOT, another 2X and a $2.25-$3 Range Throughout 2021

Meanwhile, on Twitter, the DOGE is “hot,” and many traders are equally excited.

For the superb gains DOGE has posted over the last few weeks, some are skeptical of more gains.

Still, some are convinced DOGE could reach $3 to $5 in the course of the day.

By Monday, they expect a cool-off, but overly, the DOGE/USDT prices would remain in range for the better part of the year within $2.25 and $3.

At this valuation, it is no wonder why Changpeng Zhao thinks DOGE will continue “barking” in the top-3.

Disclaimer: Opinions expressed are not investment advice. Do your research.


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