Market analyst Omkar Godbole has shared a bullish Dogecoin price prediction that sees the token exploding within the next few weeks after a strong buy signal popped up in the daily chart.
Godbole, who is a Certified Market Technician (CMT), highlighted that a rare event called a ‘golden cross’, which is a crossover between the 50-day and 200-day exponential moving averages (EMAs) has already occurred as DOGE has booked a 23.5% gain in the past 30 days.
The last time this buy signal showed up, the top meme coin rose by 300%, from $0.15 to $0.45 in just 45 days.
Hence, DOGE could be about to explode at a point when market conditions are extremely favorable.
At the time of writing, Bitcoin (BTC) just made a new all-time high as it hit $124,457, while Ethereum (ETH) is just 3.9% from its historical peak of $4,891. In addition, Solana (SOL) has crossed the $200 mark for the first time since February.
Dogecoin Price Prediction: Trading Volumes Explode as DOGE Approaches $0.27
DOGE’s trading volumes have increased significantly in the past few days. Yesterday, $4 billion worth of the token exchanged hands. This accounts for more than 11% of its circulating supply, emphasizing some strong buying pressure as it nears the $0.25 psychological threshold.
Data from CoinMarketCap shows that these are the highest volumes registered in a single day for DOGE since late July, back when the price was rising to $0.27.
The daily chart shows that DOGE is once again eyeing that level and could finally break above it as positive momentum accelerates.
The Relative Strength Index (RSI) has climbed above the mid-line and also on top of the 14-day moving average.
If we get a bullish breakout above $0.27, this would support a Dogecoin price prediction of $1. This means an upside potential of around 324% for the top meme coin within the next 3 to 6 months.
Meanwhile, a new token inspired by Dogecoin called Maxi Doge (MAXI) is rapidly becoming one of the hottest crypto presales of the year as it has raised $900,000 in just a few days.
Maxi Doge (MAXI) Will Make the Most Out of This Bull Market with 1000X Leveraged Longs
Maxi Doge (MAXI) is a dog-themed meme coin that embraces the ‘up only’ attitude that typically comes with crypto bull markets.
This character is in desperate need of getting out of his mom’s basement and this market is the perfect opportunity to achieve that.
Maxi Doge is a fearless trader. He only takes green candles, no red days allowed. No need for a stop loss as this market can only go up.
To make the most out of these trades, the launch team will allocate up to 25% of the presale’s proceeds to buy the most promising tokens.
As meme coin season kicks in, $MAXI could explode.
To buy this token before the next price increase, head to the Maxi Doge website and connect your wallet (e.g., Best Wallet).
You can swap crypto or use a bank card to invest.
Click Here to Participate in the PresaleThe post Dogecoin Price Prediction: Golden Cross Appears for First Time in Years – $1 Could Be Just the Start appeared first on Cryptonews.
