Dogcoin $0.19541In recent weeks, he re -entered the radar of investors with his strong performance. Popular crypto currency, which gained 4 percent in the last 24 hours, reached a level of $ 0.205 and approached $ 0.21 resistance with psychological importance. The fact that the daily transaction volume exceeds $ 2 billion and the market value of $ 30 billion suggests that the rise is not just a instant movement. Technical analysis and increasing investor interest strengthen the expectation that Dogecoin can enter a new upward trend.
Technical formations indicate the rise
Recently, the Cup-Kulp formation, which has attracted attention in the Dogecoin graph, is in close follow-up of technical analysts. Crypto Money Analyst Cryptoelıtes says that this formation is about to be completed and the price may increase by potentially up to 10 times if it is completed. This points to a scenario that reminiscent of the rapid rise of Dogecoin.
Ali Martinez, another expert, pointed out to Supertrend, a popular technical analysis tool and said that if the level of $ 0.21 exceeded $ 0.21, a clearer and stronger rise could begin. This level is now seen as an important resistance point in the market. Increasing volumes in both spot and futures markets show that investors’ confidence in Dogecoin has increased.
Elon Musk’s shares are effective again
The social media influence on Dogecoin continues. Elon Musk, recently in a humorous sharing of Dogecoin, with the famous Ghibli Anime character with the symbol of Dogecoin’in Shiba Inu dog brought forward. This sharing with the “Theme of the Day” note was shared by the masses in a short time and reunited the interest in Coin.
Musk’s past explanations in the price of Dogecoin had created short -term leaps. For this reason, investors closely monitor their social media interactions. The last sharing had a positive atmosphere around Dogecoin and provided moral support to price movements.
Market stance and long -term expectations
Dogecoin’s preservation of over $ 0.20 is interpreted as entering the short -term consolidation process. While technical indicators show that the upward potential continues, some investors have begun to pronounce larger targets. Especially with the breaking of the trend line that has fallen for the last three months, some analysts suggest that Dogecoin can rise up to $ 8 in the long term.
On the other hand, experts agree that investors should watch market indicators carefully. It is emphasized that extreme optimism and social media effect should be cautious against fluctuations. Increased liquidity, strong technical signals and community interest shows that Dogecoin will remain on the agenda in the coming days.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
