This article is also available in Spanish.
Cryptographic analyzer The swallow has predicted That the price of Dogecoin may soon rise to $0.48. The analyst also revealed what needs to happen first before the major currency can enjoy this bullish reversal.
Dogecoin price will reach $0.48 but it has to happen
In a TradingView ShareSwallow predicted that the price of Dogecoin would rise to $0.48. He noted that Dogecoin is currently retesting the broken Exponential Moving Averages (EMAs), where a rejection is likely to occur. The analyst added that there must be more confirmations for this rally to reach $0.48.
Related reading
In line with this, Swallow noted that Dogecoin price needs to see weakness near that either area Before heading towards the downward movement. He explained that any signs of increased trading volume at this range could lead to further movement towards the $0.40 and $0.48 targets.
Cryptographic analyzer Chris Backes It also recently provided a bullish forecast for the price of Dogecoin, predicting that a recovery was imminent. It was reported that Dogecoin has broken the two-week-old descending wedge. The cryptocurrency analyst added that after the bounce, the first meme coin could rise above $0.40.
In another post on He added that the rise is expected to continue. Based on chart analysis, DOGE could rise as high as $2, marking a new high All time high (ATH) For a meme coin above all.
The price of Dogecoin could still rise to double digits this market cycle based on the predictions of many cryptocurrency analysts. One of these analysts is Dima Jameswho recently predicted that Dogecoin could surpass $11 before the end of this year.
2025 is a bull year for DOGE
In X’s latest post, Cryptocurrency Analyst Slow growing trader It also provided a bullish outlook for Dogecoin price. He stated that the year 2025 is a bullish year for the first meme currency. The cryptocurrency analyst added that the upper resistance line indicates that DOGE’s high this market cycle could reach $3.63.
Related reading
The cryptocurrency analyst had previously predicted that Dogecoin’s price could reach double digits. The analyst stated that DOGE could reach $30 by March of this year if the meme coin reverses its price Bull Racing 2021.
Meanwhile, cryptoanalyst Master Kenobi She also shared a similar prediction to Trader Tardigrade’s, predicting DOGE to reach $3.4 in an “ultra optimistic” scenario. The analyst is more confident that the first meme coin can at least exceed the psychological level of $1 and reach $1.2.
At the time of writing, Dogecoin price is trading at around $0.33, rising over the past 24 hours, according to Data From Coin Market Cap.
Featured image created with Dall.E, chart from Tradingview.com