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Dogecoin Price Set to Explode: 40% Gains Likely After Bullish Breakout?

27.07.2024
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The Dogecoin (DOGE) price is probing for a major bullish breakout that could trigger a 40% upside explosion.

DOGE was last changing hands around $0.13. That’s just below its 200 and close to a downtrend that has been in play since late March.

A break to the north of this downtrend and above the 200DMA would signal a near-term bullish bias.

The Dogecoin price could even explode all the way back to its yearly highs close to $0.23.

The first bullish target for the Dogecoin price would be a retest of May highs above $0.17.

That could mean swift gains of 40%. But some bulls will target a 75% rally to March highs near $0.23.

Dogecoin could fly higher assuming it can break this key area of resistance.
DOGEUSD / Source: TradingView

Dogecoin Price Could Hit $1, But This Alternative Could Post Better Gains

A recovery to yearly highs near $0.23 could be just the start of a longer-term bullish trend.

With many predicting that Bitcoin (BTC) can hit $100,000 this year on Fed rate cuts and positive political developments in the US that spur adoption, Dogecoin could go well beyond $0.23.

We're exiting the Bear Trap

Prepare for 100K #Bitcoin pic.twitter.com/G0fcOjtRn7

— Thomas | heyapollo.com (@thomas_fahrer) July 26, 2024

Dogecoin advocates were waiting for DOGE to hit $1.0 in 2021.

While that milestone wasn’t reached back then, the Dogecoin price could hit $1 later this year or in 2025.

So, Dogecoin could have gains of 6-8x left in the tank.

That’s not bad, although many crypto investors are hunting much bigger gains.

Dogecoin investors might want to check out Shiba Shootout (SHIBASHOOT), a fun meme coin alternative with play-to-earn utility.

Shiba Shootout is a new meme coin presale, and analysts at Cryptonews.com rank it as one of their top picks.

Here is why Cryptonews analyst Chester thinks SHIBASHOOT has 100x potential.

Buy SHIBASHOOT Here

The post Dogecoin Price Set to Explode: 40% Gains Likely After Bullish Breakout? appeared first on Cryptonews.

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Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

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