Dogecoin (DOGE) is once again generating buzz as crypto experts point to strong buy signals that could propel its price to unprecedented heights.
Recent analysis suggests that DOGE has the potential to rise to $5, with some long-term forecasts looking at even higher price targets.
Leading crypto analyst Trader Tardigrade has charted a bullish course for Dogecoin, emphasizing that the cryptocurrency is entering the final stages of its uptrend. Leveraging the Chande Momentum Oscillator (ChandeMO), Tardigrade’s analysis points to a possible DOGE rally to $5 and beyond, with a potential peak at $9 this market cycle.
Drawing parallels with past cycles from 2018 to 2020, this highlighted the alignment of DOGE’s current price movement with the 50 Arnaud Legoux Moving Average (ALMA), strengthening the case for significant price upside. Additionally, trader Tardigrade suggested that if DOGE reflects its 2021 upward trend, the price could even reach double digits, with an expected peak of $30.
However, the more conservative estimate of $8.7, based on 2017 market trends, is an important milestone for investors.
Another respected crypto strategist, Kevin Capital, noted that DOGE recently closed the daily candle above the macro 0.786 Fibonacci level, which is a significant bullish signal. This identified the next resistance levels at $0.48 and $0.41 which are important to sustain the upward momentum. Capital advises traders to keep an eye on price movements to confirm breakouts.
Machine learning algorithms from CoinCodex add further optimism, predicting that DOGE could reach the much-anticipated $1 mark by March 2025. According to their model, the token could rise to $1.11 by April, representing a 200% increase from its current levels.
