Dogecoin’s DOGE Must Close Above This Price Level This Month for a Chance to Spike 50%

Prominent crypto analyst Rekt Capital is closely monitoring a key price level for Dogecoin (DOGE) that could pave the way for a massive 50% upswing if reclaimed as support. According to Rekt Capital’s analysis, Dogecoin has emerged from a prolonged downtrend and initiated a new macro uptrend.

The analyst highlights that if DOGE manages to close above the $0.20 level by the end of this month, it would represent a significant reclamation of a historical support zone. Such a move could provide the catalyst for further gains towards the $0.30 region, translating to an approximate 50% increase from the current levels.

For the uninitiated, a “macro uptrend” refers to a broader, long-term bullish trend that supersedes shorter-term fluctuations. Conversely, a “macro downtrend” signifies a sustained bearish trajectory over an extended period.

In a series of tweets, Rekt Capital emphasized the importance of this month’s monthly candle close, stating:

“$DOGE Dogecoin has ended its Macro Downtrend And begun a new Macro Uptrend And if DOGE Monthly Closes above the red ~$0.20 level… It would reclaim a historical support that could offer further fuel for a move towards the ~$0.30+ area.”

Explosion in Meme Coin Market; How to find potential successors to $WIF, $PEPE, and $BONK?🤫

The key? Getting in early, especially during the ICO phase. Check out NuggetRush today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. Seize the opportunity with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.

Show more +

With only a couple of days remaining until the end of the month, the analyst reiterated the significance of this pivotal moment, questioning whether Dogecoin will indeed reclaim the $0.20 level and confirm further upside potential towards the $0.30 range.

Dogecoin, initially launched as a satirical take on the cryptocurrency craze, has garnered a dedicated following and achieved remarkable success, often defying conventional market expectations. Traders and analysts alike will closely monitor Dogecoin’s price action, particularly its performance during this month’s closing period.

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.

CaptainAltcoin
Logo