Crypto analyst Ali has shared ambitious price predictions for Dogecoin (DOGE), setting target ranges between $2.40 and $23.26. The forecast comes as DOGE trades around $0.3938.
At publication, the meme coin shows a 5.04% gain in 24 hours despite a week-long decline of 2.51%.
As per Ali, major DOGE holders have accumulated millions of tokens, marking a shift in market dynamics. The surge in whale activity coincides with growing retail investor interest, suggesting a broader market participation across different investor segments.
The price movement has not yet reached overbought territory, even after a 360% increase. This technical indicator leaves room for potential upward momentum, according to Ali’s analysis.
What you'll learn 👉
DOGE Technical Analysis Points to Multiple Price Targets
Ali’s analysis identifies a parallel channel pattern governing DOGE’s price action. The pattern suggests two key price levels – $2.40 at the channel’s lower boundary and $18 at the upper limit. These targets align with historical Fibonacci retracement levels at $3.95 and $23.26.
Market data from CoinGecko shows active trading, with DOGE recording a 24-hour volume exceeding $10.5 billion. The substantial trading activity reflects strong market engagement with the meme token.
Read also: Elite Analyst Predicts XRP Price Rally Is Far From Over: Prepare For ‘Madness’
Volatility Warnings and Short-term Outlook
Traders should prepare for price swings, as historical data shows corrections ranging from 40% to 84% during previous bull runs in 2017 and 2021. Crypto analyst Bluntz suggests a measured approach, projecting a gradual price increase over several days.
Bluntz’s analysis indicates this steady climb could set the foundation for another parabolic move later in the week. The measured outlook contrasts with more aggressive price targets, offering traders different perspectives on DOGE’s potential trajectory.
The current market structure draws parallels to previous bull cycles, though past performance does not guarantee future results. Trading volumes and price action continue to demonstrate strong market interest in the meme coin.
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