Greed

Dogecoin

Dogecoin is on the verge of a massive breakout, according to one crypto analyst. <a href="https://bitcoinist.com/meme-coins-winners/">The meme coin</a> which has maintained a rather consistent uptrend over the last few days seems to just be getting started as analyst Ali Martinez sees a surge to $1.6. 
<h2 class="p2" id="dogecoin-price-primed-for-2200-move">Dogecoin Price Primed For 2200% Move</h2> 
In a recent analysis posted on X (formerly Twitter) crypto analyst Ali Martinez presented an ultra bullish narrative for the Dogecoin price. The analyst shared a chart showing a possible price trajectory for the meme coin that seems to end at the $1.6 level. 
This starts out at the current $0.069 level which the analyst believes is a great buying point. Then going onward, there is an initial pump above $0.13 before a brief retracement takes place. Then there is another surge in price that sends <a href="https://bitcoinist.com/dogecoin-price-forecast-can-doge-breach-0-1/">DOGE</a> right above $0.4. 
The next level mapped out in the chart sees it rise as high as $1.2 before another drawdown. Another bounce from here is what takes the Dogecoin price above the $1.6 target, before a final drawdown back below $1. 
<img decoding="async" loading="lazy" class="alignnone size-medium wp-image-262101 aligncenter" src="https://bitcoinist.com/wp-content/uploads/2023/10/Dogecoin-DOGE-buy-553x420.jpeg" alt="Dogecoin DOGE buy" width="553" height="420" srcset="https://bitcoinist.com/wp-content/uploads/2023/10/Dogecoin-DOGE-buy-553x420.jpeg 553w, https://bitcoinist.com/wp-content/uploads/2023/10/Dogecoin-DOGE-buy-869x660.jpeg 869w, https://bitcoinist.com/wp-content/uploads/2023/10/Dogecoin-DOGE-buy-768x583.jpeg 768w, https://bitcoinist.com/wp-content/uploads/2023/10/Dogecoin-DOGE-buy-1536x1166.jpeg 1536w, https://bitcoinist.com/wp-content/uploads/2023/10/Dogecoin-DOGE-buy-750x570.jpeg 750w, https://bitcoinist.com/wp-content/uploads/2023/10/Dogecoin-DOGE-buy-1140x866.jpeg 1140w, https://bitcoinist.com/wp-content/uploads/2023/10/Dogecoin-DOGE-buy.jpeg 1995w" sizes="(max-width: 553px) 100vw, 553px"> 
“#Dogecoin shows promising signs, breaking out from a multi-year descending triangle on the $DOGE weekly chart! The confirmation of a buy signal from the TD Sequential indicator within this timeframe reinforces #DOGE bullish outlook,” Martinez said in the post. 
The analysis does not point out this happening in the near term, however, with the top of this expected surge placed in 2024. It is also in the second half of 2024, well after the <a href="https://bitcoinist.com/bitcoin-halving-a-key-role-in-price-discovery/">Bitcoin halving</a> has been completed, suggesting this taking place in the expected <a href="https://bitcoinist.com/crypto-exchange-founder-on-bitcoin/">bull market</a>. 
<img decoding="async" loading="lazy" class="aligncenter size-medium" src="https://www.tradingview.com/x/rSOF2Z57/" alt="Dogecoin price chart from Tradingview.com 
(Buy DOGE now0" width="2650" height="1758"> 
<h2 class="p2" id="doge-bullish-sentiment-takes-hold">DOGE Bullish Sentiment Takes Hold</h2> 
While Martinez’s Dogecoin prediction is bullish, it is not the most bullish out there for <a href="https://bitcoinist.com/x-plans-to-launch-payments-service-in-2024/">the altcoin</a>. Another crypto analyst has <a href="https://bitcoinist.com/dogecoin-price-prediction-24000-16/">previously predicted a possible surge</a> to the $14 level for <a href="https://bitcoinist.com/this-could-trigger-next-dogecoin-bull-run-analyst/">the altcoin</a>. So Martinez’s 2,200% surge pales in comparison to this analyst’s expected 27,500$ surge. 
What both predictions show is a turn in the bearish sentiment that has previously dominated the meme coin. With expectations turning bullish, chances of Dogecoin’s recovery have gotten higher as more investors are willing to put money into the digital asset. 
In the same vein, the <a href="https://cfgi.io/doge-fear-greed-index/1d" rel="nofollow noopener" target="_blank">Dogecoin Fear &amp; Greed Index</a> has been flashing greed, feeding more into this bullish narrative. It suggests that investors are more likely to hold their coins during this time and wait for profits rather than sell. 
<a href="https://bitcoinist.com/dogecoin-price-prediction-24000-16/">DOGE</a> is currently holding strong at $0.069 after briefly testing the resistance at $0.07. It is up 9.055 in the last week but seeing meager gains of 0.76% on the daily chart.

Dogecoin 2200% Breakout: Analyst Reveals Why You Should Buy DOGE Now

Table of Contents

Bitcoinist

Other articles published on Oct 30, 2023

Robert Kiyosaki Names Another Misdeed of Sam Bankman-Fried, Bitcoin Price History Hints at $51,00...

X (Twitter) valued at $19 billion: Elon Musk’s vision and employee equity take center stage

CoinGecko finds October consistently positive for crypto

Top 4 Must-Watch Bitcoin And Crypto Events This Week

Andreessen Horowitz aiming for $3.4b in upcoming early-stage investment funds

Thailand’s KBank acquires crypto exchange business Satang

Join our free newsletter for daily crypto updates!