Dogecoin (DOGE) to $10? Here’s What Experts Are Saying

After a significant market rally, major cryptocurrencies are undergoing price adjustments. Amidst this, a renowned crypto expert took to X (formerly Twitter) to assert that the popular meme coin Dogecoin (DOGE) holds the potential to reach $10 in the coming year.

Expert Predicts $10 DOGE

On X, the expert stated, "To anyone who claimed $10 Dogecoin was impossible — show them this chart." They shared a DOGE weekly chart, demonstrating the meme coin's movement within an ascending channel pattern, forming progressively higher highs and lows.

Source: X (formerly Twitter)

Upon examining the chart, it appears that DOGE is presently nearing a higher low, with the subsequent higher high anticipated around $10 or $12. This analysis formed the basis of the expert's statement. It is important to note that this prediction is long-term and may require years to materialize.

Current Price Momentum

At the time of writing, DOGE is trading near $0.114 and has experienced a moderate price decline of over 1.5% within the past 24 hours. During this period, its trading volume has surged by 37%, indicating heightened participation from traders and investors, possibly influenced by the upcoming presidential election in the United States.

Technical Analysis and Future Levels

CoinPedia's technical analysis reveals that DOGE recently broke above the neckline of a bullish double-bottom price action pattern. However, with the ongoing price correction, it appears to have successfully retested this breakout level near $0.112 and is currently facing resistance from the 200-day Exponential Moving Average (EMA).

Source: Trading View

Based on historical price momentum, if DOGE closes a daily candle above $0.118, there is a substantial possibility of a 20% surge to reach $0.135 in the upcoming days. Furthermore, DOGE's Relative Strength Index (RSI) supports this positive outlook, as it is currently indicating an oversold condition, potentially signaling a strong price recovery or rally.