A renowned crypto market analyst has predicted a highly bullish outlook for Dogecoin price, expecting it to reach $0.29 in the near future. The analyst, Ali Martinez, stated that as long as the price of DOGE remains above $0.17, it could potentially hit price levels of $0.21 or even $0.29. Currently, the meme coin is trading at around $0.16, bouncing back from its recent low of $0.13.
The price of DOGE has been on an upward trend, with a 0.5% increase in price over the day and a 20% increase over the week. Market traders and investors are optimistic about the potential for Dogecoin to surpass the $0.17 mark as it continues to recover from recent lows. Another analyst, Javon Marks, has also predicted a bullish scenario for DOGE, suggesting that the token could see significant gains of up to +200% to +330% above its all-time high of $0.73.
Furthermore, analyst Trader Tardigrade has also shared a bullish forecast for Dogecoin, indicating that the token has entered the Wyckoff Accumulation phase. This phase, created by Richard Wyckoff, suggests that smart money (whales) are accumulating assets before a major price move up. Phase D in this phase indicates strong buyer support, setting the stage for the final phase, E, which signals the end of accumulation trends and the start of a sustained uptrend.
CoinGape, another crypto market analysis platform, has also revealed that bullish sentiment prevails in the market for Dogecoin, with the 3-month bias indicator showing dominance by bulls. Overall, top analysts and market experts are optimistic about the future price action of Dogecoin, projecting a significant rally ahead. With the broader market sentiments pointing towards a bullish outlook, investors and traders are eagerly anticipating the next moves for the meme coin.
