Dogecoin In an ongoing market cycle it is expected to rise dramatically to new levels due to past trends, with each cycle performing greater than the previous one. While the community waits for the rally, one cryptocurrency analyst highlighted several exit points for investors in order to prevent significant losses.
Profit taking zones for Dogecoin at bold levels
With Dogecoin showing the potential for a significant advance in this bull cycle, identifying an ideal entry and exit point is crucial to weather the upcoming volatility. As a result, Trader Tardigrade, a market expert and trader, did just that I offered Investors criticize the navigational advice by identifying key profit-making areas for DOGE.
This warning post comes in light of growing interest in Dogecoin among traders and investors, as its recent upward price momentum has attracted significant capital inflows. Moreover, the strong optimism on the part of these investors strengthens DOGE’s position as the leading coin in the crypto asset market.
Tardigrade trader insights hinge on the breakout of the last cycle, causing a significant rally to the market’s peak New all-time high for DOGE. Since the trend is likely to repeat in this cycle, the market expert has set his own profit taking zones Same angle Between $10 and $30.
“Based on the last cycle, this may indicate your presence A goal for DOGE In the current cycle,” he said. Hence, Trader Tardigrade urged investors to start collecting profits at the $10 price level while the rally progresses, indicating his confidence in the memecoin’s potential to reach between $10 and $30.
Experts’ belief that there is an imminent big rally for Dogecoin goes even further Reinforced through a record monthly close in November, sparking excitement and speculation about an extended bull run within the community.
In November, Dogecoin saw a huge candle that went from a low of $0.142 to a high of $0.480, indicating a significant increase of over 237% during the month alone. As a result, Tardigrader claims that the first candle of the bullish rally has just been lit, confirming the strong start of the dog-themed meme.
Will DOGE’s bullish momentum continue?
Dogecoin is one of the best performing digital assets in the current bull market. During the past few weeks, Doug Significant gains were recorded, increasing the possibility of further price growth.
Although the meme coin saw a decline to the $0.39 mark on Monday, it has started to rise again, attracting a rally of almost 2% in the past day. Meanwhile, in the past week and month, the meme coin has increased by more than 9% and 178%, respectively.
Several key factors, such as ongoing whale accumulations and speculation about the possibility of DOGE being incorporated into the upcoming X payouts, may have led to its notable rise in the ongoing cycle.
Featured image from Unsplash, chart from Tradingview.com
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