Originally published on: November 23, 2024
Dogecoin has been on a wild ride lately, with its price surging by 27% this week alone, hitting a new yearly high of $0.48 on November 23rd. The memecoin has seen incredible monthly gains of 236% and continues to be one of the top traded crypto assets with $19.5 billion in 24-hour trading volumes.
Analysts are now speculating whether Dogecoin will retest its all-time high of $0.73 in the coming days. Some even predict higher targets for 2025 based on its recent performance.
With strong support levels at $0.43 on the 4-hour chart, Dogecoin seems poised for further gains. Analysts like Javon Marks are eyeing a 52.2% upside from current levels, with price targets ranging from $0.65 to $1.25.
Trader Tardigrade also believes that a $1 target is inevitable for Dogecoin, citing a high-tight flag pattern formation. Additionally, historical data and Fibonacci extensions suggest that Dogecoin could reach $2.90 to $3.60 in 2024.
Other analysts, such as Dima James Potts, are even more bullish on Dogecoin’s future, with price targets exceeding $30 by 2025. Potts highlighted a recurring pattern in Dogecoin’s cycles, suggesting a massive price increase in the coming years.
Overall, the future looks bright for Dogecoin as it continues to defy expectations and reach new heights. Keep an eye on this memecoin as it could be a major player in the crypto market in the years to come.
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