The crypto analyst Jmorg has provided an in-depth technical analysis that shows what could happen The Dogecoin Prize of its current levels. The top -meme coin has already decreased as part of a wider crypto market correction below the psychological level of $ 0.2.
What the price for Dotecoin from the current level could look like
In A TradingView contributionJmorg explained that Dogecoin has had a meaningful dynamic Current price campaignwhat can be seen in the monetary flow index (MFI). He noted that the indicator accelerates a very low dynamic and the weekly time frame.
The analyst also noted that the Bollinger bandwidth narrowed to historical lows, which could ultimately be the catalyst for the necessary volatility that is necessary for Doge to return or exceed its current all-time high (ATH). He claimed that Dogecoin could reach a $ 1 Cup-and handle measured movement. In the meantime, the leading Meme coin could touch 0.95 US dollars based on the measured change from an outbreak of the rectangle.
Comment The Fibonacci retreatJmorg said that in view of the impulse and the possible increase in volume, a withdrawal of the current ATH of $ 0.73. The analyst added that a break and continuation of the higher higher higher advance would bring Dogecoin near 1.20 US dollars.
He continued on Dogecoins historical patternat which the Meme Münz record profits of 8,000% and 2,000%. The analyst found that a profit of 8,000% Dogy would increase $ 2.3 trillion dollars on $ 15 or market capitalization. Jmorg noticed that it seems unlikely because BTC has a market capitalization of around 2.2 trillion dollars.
However, the analyst emphasized a scenario in which the Bitcoin price sends itself to 200,000 US dollars and then an outbreak of the wedge pattern to $ 15. He noticed that such a scenario makes the price target of 15 US dollars more realistic and that, since crypto is unpredictable, everything is possible.
Factors that could send dog to new heights
In his analysis, Jmorg also outlined factors that could send Dogecoin’s price to new heights. First, he explained that the interim elections will be important and that he suspects that the Trump government will do everything to keep control of DC, which would probably lead to it Pro crypto guidelines.
The analyst added that Pro Crypto guidelines and deregulation could be a strong tailwind for the US economy, which would help people employ and ultimately maintain high asset prices.
Another factor that Jmorg has outlined The Dotecoin ETF. He found that the approval for these funds is likely to appear, and this could be a significant source of demand. The Doge ETFs would advance institutional tributaries, which could trigger a price boost for the Meme coin.
The last factor is the potential integration of Dogecoin payments The X Social Media platform x Social Media. The crypto analyst found that this does not seem unrealistic, since Elon Musk is a big fan of the Meme coin. Like the Doge ETFs, he said that this could provide a source of demand for the Meme coin.
At the time of writing, the Dotecoin price is around $ 0.1897, which has dropped by over 7% in the last 24 hours. Data From coinmarketcap.
Selected picture of Unsplash, Diagram from Tradingview
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