Dogecoin

Elon MemeLord

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-dogecoin-price-surge/" data-wpel-link="internal">Analyst Predicts Dogecoin Price Surge</a> 
Inspired by memes, the popular cryptocurrency Dogecoin (DOGE) recently saw its price rise above $0.16, but it is currently struggling with significant losses. However, crypto analysts remain optimistic about DOGE’s future trajectory. A popular <a href="https://en.coin-turk.com/analysis-of-altcoin-prices-avax-chiliz-and-ceek-coin-reviews/" data-wpel-link="internal">crypto analyst</a>, Ali Martinez, expects the Dogecoin price to double in the current cycle. 
<h2 style="text-align: justify" id="doge-price-prediction">DOGE Price Prediction</h2> 
Ali Martinez stated that today DOGE seems to face significant resistance between $0.166 and $0.171. Moreover, this resistance indicates that 75,500 addresses have purchased nearly 10 billion DOGE at this price level. According to Martinez’s analysis, this presents a significant barrier to upward price movement. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-356936" src="https://coin-turk.com/wp-content/uploads/2024/05/doge-grafik-coin-turk-com-1.png" alt="" width="712" height="468"> 
On the other hand, his analysis reveals that if Dogecoin breaks through the observed resistance level, it has the potential for a significant rally. Martinez appears to expect a 100% rally in Dogecoin’s price. Additionally, Martinez highlighted the next significant resistance level at the $0.322 region. 
This means that if DOGE surpasses the $0.171 level, it could potentially double in value. Furthermore, the large accumulation of DOGE in the $0.166 to $0.171 range indicates a significant number of <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>, strong interest, and investments, emphasizing the importance of this level. 
It is also important to remember that DOGE is supported by <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">Elon Musk</a>, who has made numerous statements about DOGE, known as the pinnacle of Meme Coins. 
<h2 style="text-align: justify" id="doge-price-declines">DOGE Price Declines</h2> 
Despite the rising interest in meme coins, Dogecoin continues to trade in negative territory. As of the time of writing, DOGE is trading at around $0.1619 after a 4.71% drop on Tuesday, May 28. 
Following this price movement, DOGE‘s market cap remained above $23.5 billion. Additionally, DOGE’s trading volume rose to $1.42 billion after an 8.62% increase in the last 24 hours. 
According to Coinglass data, a total of $2.15 million in Dogecoin long positions were liquidated. Furthermore, DOGE futures open positions saw a 4.17% decline, falling to $1.01 billion. 
The Relative Strength Index (RSI) value for Dogecoin dropped to 38.79. This indicates that sellers are increasingly gaining control over DOGE. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-dogecoin-price-surge/" data-wpel-link="internal">Analyst Predicts Dogecoin Price Surge</a></h5>

Analyst Predicts Dogecoin Price Surge

Table of Contents

COINTURK NEWS

Other articles published on May 28, 2024

ETH Price Hits $3,900 – Can It Surpass $4,500 Before ETF Approvals?

ORACLE MEME Coin Presale Achieves $208,000 Milestone in Minutes

Bitcoin And Ethereum ETF Market Expected To Reach $450B

Ryan Salame gets longer prison sentence than CZ

Notcoin (NOT) Is Up By 46% Today At Over $1B Market Cap

Donald Trump Crypto Portfolio Hit $10 Million Amid MAGA Meme Coin Rally

Join our free newsletter for daily crypto updates!