{"id":652204,"date":"2024-11-08T23:00:44","date_gmt":"2024-11-08T23:00:44","guid":{"rendered":"https:\/\/wncen.com\/?p=652204"},"modified":"2024-11-08T11:22:05","modified_gmt":"2024-11-08T11:22:05","slug":"dogecoin-price-forecast-bullish","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-price-forecast-bullish\/","title":{"rendered":"Dogecoin Price Forecast: Analyst Says Downside Is Minimized As 1M, 3M, And 6M Candles Turn Bullish"},"content":{"rendered":"

As the crypto market rides the bullish wave spurred on by <\/span>Donald Trump\u2019s win<\/span><\/a> in the United States Presidential elections, the Dogecoin price has emerged as a top performer, gaining over 25% earlier this week. With momentum building toward a potential all-time high, a crypto analyst highlights that <\/span>Dogecoin\u2019s downside risk<\/span><\/a> has significantly decreased. This positive shift is attributed to the recent bullish trend across the 1-month, 2-month, 3-month, and 6-month candles, which are now turning bullish.\u00a0<\/span><\/p>\n

Dogecoin Price Outlook Brightens With Long-Term Candles\u00a0<\/span><\/h2>\n

In a recent technical analysis, a crypto analyst on X (formerly Twitter) identified as \u2018The Coach\u2019<\/span> declared<\/span><\/a> that the <\/span>Dogecoin long-term candles<\/span><\/a>, specifically the 1M, 2M, 3M, and 6M indicators, are all turning bullish. These monthly candles reflect a cryptocurrency\u2019s <\/span>price performance<\/span><\/a> over an extended period and are often used to gauge larger market trends.\u00a0<\/span><\/p>\n

Related Reading: This Crypto Analyst Correctly Predicted The Bitcoin Price Rise To $75,000, Here\u2019s The Full Prediction<\/a><\/div>\n
\"Dogecoin
Source: X<\/figcaption><\/figure>\n

In the case of Dogecoin, these long-term candles highlight that the meme coin has <\/span>recorded consistent price increases<\/span><\/a>, experiencing strong monthly, quarterly, and biannual market performance. Based on the long-term bull candles, The Coach surmised that the downside potential for Dogecoin has grossly reduced. This means that the likelihood of the Dogecoin price experiencing substantial declines is now much lower, suggesting a more stable and possibly <\/span>bullish outlook in the near term<\/span><\/a>.\u00a0<\/span><\/p>\n

So far, analysts have suggested that if Dogecoin can bounce from its current price level of around $0.19, it could easily <\/span>break the $0.22 threshold<\/span><\/a> and prepare for its next bullish price target. While The Coach is confident of Dogecoin\u2019s bullish outlook, he acknowledged that a few obstacles could hinder this projected price increase.\u00a0<\/span><\/p>\n

Factors like <\/span>market volatility<\/span><\/a> could create sudden short-term fluctuations, making sustained price growth challenging for Dogecoin. Additionally, <\/span>profit-taking<\/span><\/a> from short-term holders could also stall Dogecoin\u2019s momentum.\u00a0<\/span><\/p>\n

DOGE Unlikely To Hit $1 This Month<\/h2>\n

In another more recent<\/span> X post<\/span><\/a>, The Coach expressed optimism about Dogecoin\u2019s price movement, highlighting the overall <\/span>positive market trend for DOGE<\/span><\/a>. However, he disclosed that it was uncertain if the meme coin could reach $1 this month.\u00a0<\/span><\/p>\n

Related Reading: Analyst Predicts \u2018The Final Ascent\u2019 For Bitcoin Price, Why A Rise To $300,000 Is Possible From Here<\/a><\/div>\n
\"Dogecoin
Source: X<\/figcaption><\/figure>\n

While a $1 price target may seem overly ambitious, The Coach has emphasized that Dogecoin will inevitably reach higher highs. He also <\/span>noted<\/span><\/a> that if Dogecoin were to <\/span>hit the $1 mark<\/span><\/a>, it would happen rapidly and without warning, leaving many struggling to comprehend how it occurred.\u00a0<\/span><\/p>\n

Moreover, the analyst has<\/span> revealed<\/span><\/a> that with the support of SpaceX and Tesla Chief Executive Officer (CEO), <\/span>Elon Musk<\/span><\/a> and the newly elected US President, Donald Trump, Dogecoin could see even more bullish price increases, possibly reaching the new price highs around the $0.3 level. As of writing, the price of the meme coin is trading at $0.197, reflecting a 3.66% rise in the last 24 hours and a 24.15% increase over the past week, according to CoinMarketCap.\u00a0\u00a0<\/span><\/p>\n

\"Dogecoin
DOGE bulls still in control of price | Source: DOGEUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

As the crypto market rides the bullish wave spurred on by Donald Trump\u2019s win in the United States Presidential elections, the Dogecoin price has emerged as a top performer, gaining over 25% earlier this week. With momentum building toward a potential all-time high, a crypto analyst highlights that Dogecoin\u2019s downside risk has significantly decreased. This positive shift is attributed to the recent bullish trend across the 1-month, 2-month, 3-month, and 6-month candles, which are now turning bullish.\u00a0 Dogecoin Price Outlook Brightens With Long-Term Candles\u00a0 In a recent technical analysis, a crypto analyst on X (formerly Twitter) identified as \u2018The Coach\u2019 declared that the Dogecoin long-term candles, specifically the 1M, 2M, 3M, and 6M indicators, are all turning bullish. These monthly candles reflect a cryptocurrency\u2019s price performance over an extended period and are often used to gauge larger market trends.\u00a0 Related Reading: This Crypto Analyst Correctly Predicted The Bitcoin Price Rise To $75,000, Here\u2019s The Full Prediction In the case of Dogecoin, these long-term candles highlight that the meme coin has recorded consistent price increases, experiencing strong monthly, quarterly, and biannual market performance. Based on the long-term bull candles, The Coach surmised that the downside potential for Dogecoin has grossly reduced. This means that the likelihood of the Dogecoin price experiencing substantial declines is now much lower, suggesting a more stable and possibly bullish outlook in the near term.\u00a0 So far, analysts have suggested that if Dogecoin can bounce from its current price level of around $0.19, it could easily break the $0.22 threshold and prepare for its next bullish price target. While The Coach is confident of Dogecoin\u2019s bullish outlook, he acknowledged that a few obstacles could hinder this projected price increase.\u00a0 Factors like market volatility could create sudden short-term fluctuations, making sustained price growth challenging for Dogecoin. Additionally, profit-taking from short-term holders could also stall Dogecoin\u2019s momentum.\u00a0 DOGE Unlikely To Hit $1 This Month In another more recent X post, The Coach expressed optimism about Dogecoin\u2019s price movement, highlighting the overall positive market trend for DOGE. However, he disclosed that it was uncertain if the meme coin could reach $1 this month.\u00a0 Related Reading: Analyst Predicts \u2018The Final Ascent\u2019 For Bitcoin Price, Why A Rise To $300,000 Is Possible From Here While a $1 price target may seem overly ambitious, The Coach has emphasized that Dogecoin will inevitably reach higher highs. He also noted that if Dogecoin were to hit the $1 mark, it would happen rapidly and without warning, leaving many struggling to comprehend how it occurred.\u00a0 Moreover, the analyst has revealed that with the support of SpaceX and Tesla Chief Executive Officer (CEO), Elon Musk and the newly elected US President, Donald Trump, Dogecoin could see even more bullish price increases, possibly reaching the new price highs around the $0.3 level. As of writing, the price of the meme coin is trading at $0.197, reflecting a 3.66% rise in the last 24 hours and a 24.15% increase over the past week, according to CoinMarketCap.\u00a0\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":642688,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[167,6664,26263,14690,1785,89174,85675,7,1803,1804,79599,79600],"class_list":["post-652204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-doge","tag-doge-news","tag-doge-price","tag-dogecoin","tag-dogecoin-news","tag-dogecoin-price","tag-dogeusd","tag-dogeusdt"],"acf":[],"yoast_head":"\nDogecoin Price Forecast: Analyst Says 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