Dogecoin to Moon in 2024? Analyst Predict DOGE Price Rally Soon

The post Dogecoin to Moon in 2024? Analyst Predict DOGE Price Rally Soon appeared first on Coinpedia Fintech News

Dogecoin, the charismatic underdog of the crypto world, is once again stepping into the spotlight. According to insights from respected cryptocurrency analyst Ali Martinez, Dogecoin is positioned for a significant price surge. 

As excitement builds, there’s anticipation that Dogecoin might reach approximately 20 cents during this rally.

Ali Martinez’s Analysis

In a recent X post, esteemed crypto analyst Ali Martinez, known for her accurate predictions in the crypto space, shared key observations that have the community buzzing with anticipation.

Martinez specifically points to critical metrics such as trading volume and the delicate balance between buying and selling pressure. A surge in trading volume, coupled with a dominance of buying activity over selling, indicates a growing interest in Dogecoin, often signaling an impending uptick in its value.

In a tweet, Martinez highlights that “There’s a notable surge in DOGE transactions exceeding $100,000 in the past month, consistently hitting new highs. This uptick suggests increased interest in DOGE from institutional players and whales, potentially gearing up for a significant price spike.”

Analyst Kaleo’s Positive Outlook

Kaleo, another prominent figure in the crypto analysis space, shares a positive sentiment regarding Dogecoin. On November 9, he shared insights and a strategic overview of Dogecoin, predicting noteworthy movements in its price in the near term.

Kaleo anticipates an upward trajectory in Dogecoin’s value within the next week or two. Drawing from historical trends, he notes that Dogecoin tends to experience rapid price increases once it initiates movement.

The analyst predicts a swift ascent in Dogecoin’s price, reaching a range between 9 to 10 cents, followed by a stabilizing period. Subsequently, he envisions another quick surge to around 15 cents. While expressing optimism for a substantial rise, Kaleo realistically sets the potential peak at approximately 20 cents during this rally.

Dogecoin Rally in 2024

Further, the analyst also touches upon Dogecoin’s longer-term prospects, suggesting that a more significant rally might materialize later in 2024. 

Despite this, he believes there’s still room for notable price movements before that period, drawing parallels with Dogecoin’s behavior in the spring of 2021 and noting similarities in price action before a substantial increase

Kaleo’s analysis delves into Dogecoin’s price concerning Bitcoin, utilizing a high time frame (HTF) approach. He identifies a critical point where Dogecoin, measured in satoshis (Bitcoin’s smallest unit), may encounter resistance—historically a point where the price ceases to rise and may reverse.