Dogecoin

Memetic / PepeCoin

Memecoin

The post<a href="https://cryptosnewss.com/analyst-predicts-dogecoin-could-reach-new-all-time-high/" rel="noopener noreferrer nofollow"> </a><a href="https://cryptosnewss.com/dogecoins-market-outlook-can-doge-reignite-its-rally/" rel="noopener noreferrer nofollow">Dogecoin&#39;s Market Outlook: Can DOGE Reignite Its Rally?</a> appeared first on<a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow"> Cryptos Newss</a>.The Dogecoin price is up almost 150% since the start of this month, as the foremost meme coin continues to enjoy a massive bull run. Crypto analyst Alan Santana has provided insights into what is driving this rally and whether it is sustainable.<h2 id="header-0">What Is Driving The Dogecoin Price Rally</h2>In a <a href="https://www.tradingview.com/chart/DOGEUSDT/RJ2PKYRm-The-Truth-Behind-This-Dogecoin-Rally-Is-It-Sustainable/" rel="noopener noreferrer nofollow">TradingView post</a>, Alan Santana alluded to DOGE’s monthly chart to show what is truly driving the Dogecoin price rally. He noted that this month is a bullish breakout month and the first strong green month since the <a href="https://bitcoinist.com/bitcoin-poised-for-a-parabolic-bull-scenario-during-price-discovery-details/" rel="noopener noreferrer nofollow">2021 bull run</a>. The analysts specifically cited January 2021, when a similar action occurred, with a “very strong bullish phase” following.In line with this, Santana stated that just because the <a href="https://cryptosnewss.com/is-dogecoin-set-to-jump-90-breaking-down-the-buzz/" rel="noopener noreferrer nofollow">Dogecoin</a> price is seeing this strong growth doesn’t mean this is the end. Instead, the analyst stated that this very strong growth signals the beginning of the bullish cycle, so investors can expect more parabolic rallies for Dogecoin ahead.Santana asked those in doubt to zoom out on the monthly chart. He revealed that this monthly session has the highest volume since 2021. Furthermore, the analyst mentioned that this month broke a long-term resistance and descending trend. Lastly, he said that this month ended a three-year consolidation period for the Dogecoin price.The analyst noted that this three-year consolidation can lead to a very strong bull market, which is exactly what is playing out. As such, Santana reaffirmed that no matter how high the Dogecoin price goes this month, it is only the start. In the short term, the analyst warned that there can be swings and shakeouts, and even a strong correction can develop along the way.However, Santana claimed that such corrections are good as they will be used as an opportunity to take profits when at resistance and rebuy and reload when at support. He added that the Dogecoin price has much more to give and that there is no limit as to how high prices can go.<h2 id="header-1">Most Explosive Leg Still Ahead</h2>In an X post, crypto analyst Kevin Capital echoed a sentiment similar to Alan Santana, suggesting that the most explosive leg could still be ahead for the Dogecoin price. This came as he highlighted the stage Dogecon’s price and Relative Strength Index (RSI) currently are on the monthly timeframe in relation to previous bull cycles. He claimed that if this Dogecoin price level and RSI hold, there is a long way to go in this DOGE bull run, and the most explosive leg is still ahead. Crypto analyst <a href="https://bitcoinist.com/dogecoin-price-past-bull-cycles/" rel="noopener noreferrer nofollow">Trader Tardigrade</a> recently predicted that the Dogecoin price could rally to $8.7 by August 2025 if it mirrors the 2017 bull run or rally to $30 by March 2025 if it follows the 2021 bull run.At the time of writing, the Dogecoin price is trading at around $0.40, down over 6% in the last 24 hours, according to <a href="https://coinmarketcap.com/currencies/dogecoin/" rel="noopener noreferrer nofollow">data</a> from CoinMarketCap.The post <a href="https://cryptosnewss.com/dogecoins-market-outlook-can-doge-reignite-its-rally/" rel="noopener noreferrer nofollow">Dogecoin&#39;s Market Outlook: Can DOGE Reignite Its Rally?</a> appeared first on <a href="https://cryptosnewss.com/dogecoins-market-outlook-can-doge-reignite-its-rally/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.

Dogecoin's Market Outlook: Can DOGE Reignite Its Rally?

Table of Contents

Cryptos Newss

Other articles published on Nov 27, 2024

Stablecoins vs. Tokenized Money Market Funds: Can BlackRock’s BUIDL Outperform Traditional Stable...

Dogen Outpaces PEPE and BONK With Projected $1 Billion Market Cap by 2025!

OpenAI’s Sora text-to-video tool leaked by aggrieved beta testers

MARA Urges U.S. to Bolster Bitcoin Mining Leadership Amid National Security Concerns

Tether Announces Termination of EURT Coin Due to Regulatory Changes in Europe

Bitcoin Market Experiences Surge in Activity

Join our free newsletter for daily crypto updates!