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Dogecoin Price Prediction: Expert Analysis Sees 400% Spike, But There’s One Snag

Over the past few months, many investors have carefully analyzed Dogecoin value as it alternated between bullish gains and declining losses. Doge eventually broke resistance at the $ 0.25 level but is still struggling to maintain its current level. However, experts predict a 400 percent return when investors work together.

In October, Doge saw a 40 percent increase for a market price of $ 0.33. Unfortunately, its value fell back almost immediately, trading at $ 0.22, with market growth declining 0.35 percent at the time of writing.

The sudden market shifts may be daunting, but be aware that Dogecoin recently increased its transaction count by 70.7 percent, from 1,570 to 2,680. According to FX Street, this suggests that high net worth investors are interested in Doge.

It also means that Dogecoin’s future markets could serve as investment opportunities for traders.

Dogecoin Value: December Resistance Levels

FXS experts discussed Dogecoin resistance levels and revealed a descending triangle model for its market performance. They predict a coming upswing of 361 percent that will push the market value to $ 1.09. There are a few challenges to getting to this point, however.

Doge price broke the triangle’s hypotenuse when it traded at $ 0.24 in October. It is currently near the USD 0.19 support level. These two levels of support serve as indicators of a bullish formation or a trend reversal in a triple tap setup. In particular, Dogecoin needs to break through the USD 0.29 and USD 0.35 levels to trigger the uptrend.

At best, this development could push Doge’s potential up to $ 0.44. Progress would eventually retest Dogecoin’s all-time high at $ 0.74. Note that the bull rally could end up reaching $ 1.09, a 400 percent gain over current trade value.

Of all of the resistance levels identified, Doge could be struggling, particularly between $ 0.30 and $ 0.34. This is where traders could come under pressure and sell their tokens to break even.

If buyers can overcome this level of resistance, Doge will definitely move up the market again.

Also read: Upcoming NFT games December 2021: ‘Hypebeast’, ‘Sloties’ and other new titles

Dogecoin Price Prediction: Supporting Large Investors

It is worth noting that the enormous potential of Dogecoin is directly tied to the well-known investors interested in the market. Below are some iconic figures who have pledged to invest at Dogecoin.

Mark Cuban said Dogecoin was one of the most widely used transactions in its market.

Because Doge is the only coin that people actually use for transactions. We take many others through @BitPay. But people are spending their doge and that means more companies are going to get started. The biggest stumbling block to its growth is that you can’t spend the doge you buy on Robinhood

– Mark Cuban (@mcuban) April 26, 2021

Elon Musk and Billy Markus have also spoken about the potential of Dogecoin in the past.

Super important doge fees dropping to make things like buying Filmtix profitable

– Elon Musk (@elonmusk) September 22, 2021

Just recently Adam Aron announced Dogecoin as a valid payment method for AMC cinemas.

Big news for Dogecoin fans! As we’re working on accepting online crypto payments, you can now purchase @ AMCTheatres digital gift cards (up to $ 200 per day) of Dogecoin and other cryptocurrencies through a BitPay wallet. Accepted on our website, mobile app and in cinemas.

– Adam Aron (@CEOAdam) October 5, 2021

Capital sources also made their own predictions for the inbound trade values ​​of Dogecoin.

  • CoinCodex predicted that Dogecoin could trade at $ 0.23 on December 5th. His long-term forecast said it would take several years for the coin to hit $ 1.
  • Wallet Investor said Dogecoin could average $ 0.23 by the end of December and eventually climb to $ 0.46 by the end of 2022. Doge could double to $ 1.36 in 2026.
  • DigitalCoin predicts an average value of $ 0.40 in 2022 and $ 0.65 in 2025 for Dogecoin, and could reach $ 1.01 by 2028

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