Will Dogecoin Have Its Third Price Surge? Analysts Predict an Explosive Price Increase After the Dip

Dogecoin (DOGE) may have to endure a long period of price decline, followed by a price surge starting from April 2025, according to the analysis of user X named Master Kenobi, who recently expressed this interesting viewpoint in a tweet.

Master Kenobi has examined the price movement of Dogecoin in 2024, when the currency surged to its highest level of $0.23 before stagnating for several months before breaking out in late 2025 to a new high of over $0.40. If this price pattern repeats, it means Dogecoin will enter a period of stagnation until mid-April, before breaking out again around the middle of next year. Can the Dogecoin price increase happen earlier? This is an interesting theory. But Dogecoin speculators will be happy to know that the risk is tilting much towards the early increase in Dogecoin price compared to April. Why? The Department of Government Efficiency (DOGE), with its humorous name, is led by none other than Elon Musk (a dedicated supporter of Dogecoin for many years) and is expected to officially debut in Washington in January. The soon-to-be inaugurated President of the United States, Donald Trump, who is believed to have the most cryptocurrency-friendly administration in history, has tasked DOGE with reducing fraud and waste in government spending. Musk has made an impact in Washington - his strong criticism of recent congressional spending legislation has led to the bill being cut from over 1500 pages to just over 100 pages. It is expected that DOGE will dominate the headlines in 2025, ensuring that Dogecoin will capture a large market share in the cryptocurrency market. That means when the Trump campaign returns to push up the price of cryptocurrencies, which could happen in the coming weeks, DOGE will be the leading candidate with superior potential. However, chart analysis continues to indicate a downside risk for Dogecoin at the moment. At a price near $0.32, Dogecoin has dropped below the 21 and 50 DMAs after a sharp decline last week.

And DOGE has yet to retest the early 2024 high of $0.23, which will be the main target for the sellers. Chart analysis suggests that DOGE could decline in the short term. However, if it reaches a low of $0.20, it could be a great coin to buy on the dip. With Dogecoin's ability to skyrocket to over $1.0 and achieve a 5x increase in this bullish market, it is a promising candidate for the best cryptocurrency to buy right now. DYOR! #Write2Win #Write & Earn $DOGE {spot}(DOGEUSDT)

View Original
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
  • Reward
  • 1
  • Share
Comment
0/400
GateUser-83070f95vip
· 2024-12-24 01:55
Rate a 🗨
Reply0