The Dogecoin price prediction has just turned ultra-positive this morning, after the meme token threatened to break through a bullish pennant.
Currently trading at around $0.2232, DOGE will crack through the pennant if it clears $0.23, something which analyst Ali Martinez predicted in a post from yesterday.
The token is up by 2% in a week but down by 8% in a fortnight, meaning that the time is ripe for a rebound.
And given that DOGE could still benefit from the eventual rollout of digital payments on X, there remains a real chance of a surge towards $1 in the longer term.
Dogecoin Price Prediction: DOGE Chart Just Went Full Bull Mode – Is $1 Just the Start?
In his post, Martinez highlighted a pennant that the Dogecoin price has been trading within since mid-August.
The top and bottom of this pennant should converge on each other by early September, meaning that the Dogecoin price is only a few days away from making a big move.
Looking at the available on-chain data, it seems that one whale has made a big DOGE transfer (worth $106.3 million) to Binance in the past couple of days.
This may be a sign of an incoming dump, or it may be a sign that the whale in question expects the Dogecoin price to rally soon, and that they’re planning to take profit once it does.
And if we look at DOGE’s chart today, we see that it looks ready to rise again after a difficult period.
Source: TradingViewIts indicators – the MACD (orange, blue) and the RSI (yellow) – have flattened out after several weeks of decline and stagnation, suggesting that buyers are about to take advantage of its oversold status.
It’s also encouraging that its 24-hour trading volume has risen to $2.24 billion today, representing a 40% gain over the past couple of days.
This signals an increase in interest, and when taken with the bullish pennant, we could certainly see a rally in the near term.
The Dogecoin price may therefore reach $0.30 by the end of October, while positive news regarding crypto payments on X could push it beyond its ATH by the end of the year.
Is Maxi Doge The Next Dogecoin? New Meme Token Raises $1.6 Million in Presale
For traders unconvinced by Dogecoin, new meme tokens hit the market regularly, and some of them are showing real potential.
A good case in point is Maxi Doge ($MAXI), a new Ethereum-based coin that recently opened its presale.
It has now raised just over $1.6 million in its ICO, which is an encouraging indication that it could become very popular.
Not only is Maxi Doge a viral meme token with a strong marketing team behind it, but it will also be an online community of traders.
In particular, it will use its Telegram and Discord channels to organize regular trading competitions, in which the best-performing participants can earn rewards.
Its channels will also serve as a place where users can share trading tips and even plan strategies, something which should help boost MAXI over time.
On top of this, Maxi Doge will maintain a Maxi Fund, which will be 25% of its total supply (150.24 billion MAXI) and which it will direct towards partnerships and marketing campaigns.
This all gives it a good chance of becoming a big meme token, with investors able to join its presale by going to the Maxi Doge website.
MAXI now costs $0.0002545, although this will rise at regular intervals for as long as the sale lasts.
Visit the Official Website Here
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