If this scenario is implemented, Dogecoin will probably reach $1. In this Pooyan Music post, we will look at an analysis and forecast of the Dogecoin price.
The main meme cryptocurrency DOGE may face the start of a new uptrend. So, with a certain probability, it will reach the expected level of $1.
Crypto analyst and trader Ali Martinez has shared his opinion on the potential future price performance of Dogecoin. The expert believes that the original dog cryptocurrency based on Shiba Inu memes may rise to $1.
Currently, DOGE is completing its multi-year descending triangle pattern, the analyst stated. As soon as DOGE breaks out of that, it may begin to move higher, starting a new uptrend according to Ali Martinez’s X account post.
If the DOGE weekly candle closes above the $0.0835 level, this could be the start of a new uptrend for DOGE. A trend that could potentially push the coin to the expected $1 level.
However, the analyst also cautions that traders should keep an eye on the $0.0482 support level. Because “any sign of weakness around this level could lead to a new annual decline.”
A weekly candlestick close above $0.0835 could initiate a new $DOGE uptrend, possibly heading towards $1. However, we should be wary of $0.0482 support, as any sign of weakness… pic.twitter.com/Emcwfyv6cE
At the time of writing, DOGE is trading at $0.0586. Since October 2nd, the leading meme coin has lost 8.46%, falling from $0.0640 to the current trading level. The good news is that Dogecoin is steadily trying to recover. Over the past two days, it has increased by 2.31%.
Dogecoin developer known as @mishaboar on the social media platform X recently published a post in which he strongly criticized those in the cryptocurrency community who “predict” the timing of bull markets.
He stated that many, including cryptocurrency maximalists, are promising bull markets soon, leading people to speculate on crypto. “Crypto is just gambling,” he believes, regardless of whether you have Bitcoin or DOGE.
Mishabur explains his skepticism by saying that “the market is unfair and corrupt. And it creates values from feelings and hot air. Many people do not understand the full dangers of cryptocurrency speculation.
Instead of gambling, the developer recommends that people start using the cryptocurrency as a currency without centralized control. He then went further and recommended that people should learn about coding instead. “Instead you can use cryptography to learn about coding. For example, to understand more about how the economy works and the dangers of concentration.