Market expert sets DOGE price to ‘$0.49 and beyond’ soon

Despite many assets in the cryptocurrency industry trending positively, Dogecoin (DOGE) remains stagnant, awaiting an upward trigger. However, a crypto expert suggests that traders of the popular doge meme token may not have to wait much longer.

Popular pseudonymous crypto market analyst CoinsKid predicts that Dogecoin could "run to $0.49 and beyond" in the near future, as "invalidation is losing the bottom of the potential C wave in May at $0.11929," as he explained in an X post on May 17.

DOGE price action analysis. Source: CoinsKid

DOGE price prediction
The current DOGE chart pattern emerged a few days after CoinsKid observed the "textbook inverse head & shoulders on the daily for DOGE," a structure that indicates an upward price trend or a bearish-to-bullish trend reversal.

DOGE inverse head and shoulders pattern. Source: CoinsKid

Another pseudonymous crypto analyst, World Of Charts, is less optimistic but predicts a price increase for Dogecoin, setting the target between $0.27 and $0.30, following Behdark's suggestion of a "long-term bullish rally."

DOGE price action analysis and prediction. Source: World Of Charts

DOGE price analysis
As of May 17, Dogecoin is trading at $0.15266, representing a 0.58% decline in the last 24 hours, a 2.37% gain over the past seven days, and a 0.27% monthly increase, according to the latest price data.

DOGE price 7-day chart. Source: Finbold

Considering the recent breakout from a resistance trend line, the doge meme token could potentially surge towards the optimistic price target of $0.49.

However, the crypto market is volatile, and it is crucial to conduct thorough research and assess risks before investing in any asset.

Disclaimer: The information provided on this site does not constitute investment advice. Investing is speculative, and your capital is at risk.