Dogecoin, the leading meme coin, has plummeted by over 23% in the past week, significantly impacted by the market downturn. However, the tide seems to be turning slightly.
As of April 19, Dogecoin has regained some lost territory, increasing from $0.139 to a high of over $0.16. an increase of approximately 15%. This slight recovery can be attributed to the bullish sentiment surrounding “Dogecoin’s Day.”
Despite this uptick, the coin’s performance in the last 24 hours has been bearish, with a 1.2% decrease. It looks like the bears are still in charge, and the bulls need to exert more effort to usher in a bullish trend.
Amid the gloomy outlook, top crypto analysts predict a rally to $2 for Dogecoin. But the question now is: Can DOGE really go that high? Let’s find out.
Analysts Bullish Predictions on Dogecoin: How Far Can It Go?
Uncertainty looms in the Dogecoin market amid the meme coin’s recent performance. However, renowned analysts like Javon Marks, Mikybull Crypto, and Trader Tardigrade have made optimistic predictions, shedding light on the coin’s potential.
Javon Marks, an X user, labeled the recent correction as a “healthy pullback,” considering Dogecoin’s remarkable performance since the beginning of the year.
$DOGE (Dogecoin)’s price, since breaking out of the displayed resisting trend, made a roughly +234% upside move before what a recent possible healthy pullback!
With prices still holding broken out, pullbacks may only assist prices in a >315% uphill run to the $0.6553 target… https://t.co/weh2zpmX5e pic.twitter.com/0AfE8BeiZr
— JAVON⚡️MARKS (@JavonTM1) April 18, 2024
In his words, since breaking out of the resisting trend, Dogecoin’s price move marks an approximately 234% increase before the recent “healthy pullback.”
Javon believes this temporary setback could catalyze a 315% rally for Dogecoin to hit the $0.65 price mark. This prediction shows that things might turn out well for Dogecoin, which may renew investor confidence.
Interestingly, Javon Marks isn’t the only analyst who is bullish on Dogecoin’s future. Mikybull Crypto, a known crypto analyst, shared a similarly bullish outlook, asserting that the “real bull run is about to start.”
Interestingly, this bullish statement was made before DOGE’s 15% increase on April 19, indicating that Mikybull foresaw the possibility of the coin’s value rising.
$DOGE
The real bull run is about to start🔥 pic.twitter.com/uPa17Dt4Un
— Mikybull 🐂Crypto (@MikybullCrypto) April 7, 2024
Furthermore, Trader Tardigrade presented an intriguing perspective, suggesting that Dogecoin follows a “Cycle of 7 years.” This theory hints at the possibility of a price explosion.
According to the analyst, while DOGE trades around $0.22, it could eventually reach $2, $9, and $40. He warned investors not to miss the opportunity to acquire more DOGE coins, as history is bound to repeat.
$Doge is running in the “Cycle of 7 years”🔥
We can see a similar price action in the first half of the current cycle, compared to that of last cycle.
When we were at $0.0007 in 2017, we never believed $Doge would spike to $0.003, $0.009 & $0.35
T~O~D~A~Y~:
We are at $0.22, we… pic.twitter.com/G2tcCNhX2y— Trader Tardigrade (@TATrader_Alan) April 1, 2024
After looking at Dogecoin’s performance, Mayne, a crypto influencer with half a million followers, imagined two things that could happen to Dogecoin. First, Dogecoin might drop below $0.18 and have a big problem, or second, the bulls might come to the rescue, and “the party continues.”
DOGE’s chart shows the coin plummeted below $0.18, just as the analyst predicted. However, it’s having some challenges rebounding and currently trades around $0.159.
Nonetheless, these analysts’ predictions indicate a positive shift in sentiment, which could significantly impact Dogecoin’s value and investor sentiment.
Dogecoin Price Analysis: Mixed Signals Ahead?
From the chart above, Dogecoin is attempting to swing up. However, the technical indicators were not all in agreement. Dogecoin is below its 50-day simple moving average (SMA), suggesting a short-term bearish sentiment.
But in the bigger picture, Dogecoin is still hanging above its 200-day SMA, which could act as support and indicate that It is bullish in the long term.
Furthermore, the MACD red bars are fading, suggesting the bears are losing momentum to give way for buyers to take charge. Should this happen, it could signal a new chapter in Dogecoin’s journey.
So, what’s the bottom line for investors? Market sentiment is a bit mixed right now. Therefore, to be on the safe side, investors may want to wait for a clearer trend before making any move.
While analysts’ reviews suggest Dogecoin (DOGE) is poised to surge significantly, investors might want to keep an eye on this new project, Slothana. This upcoming project is gearing up to join the ranks of top exchanges and make waves in the crypto world.
Solana-Based Coin Raises $10 Million in Presale – Potential 10X
Slothana is the newest sensation in the Solana ecosystem, following the footsteps of the mighty Book of Meme. Remember that BOME went through a wild presale, gathering a cool $2 million before its big debut on exchanges.
BOME Coin skyrocketed to a $1 billion market cap after landing on Binance, a move that interested many people in the coin’s potential.
Solthana could have similar potential; in just two weeks of its presale, it’s already raised over $10 million, an impressive jump from where the BOME token started. This huge success isn’t just by chance; it shows that investors are crazy about SLOTH and think it’s got serious potential.
Also, rumor has it that the masterminds behind Smog, a crypto gem that hit a $270 million market cap in no time, might be involved with Slothana.
Many investors have been keeping a close watch on both projects. They’ve even noticed Smog giving Slothana a shoutout when it was just a baby with less than 50 followers. Could this mean the same clever minds are behind both?
Interestingly, Slothana will be listed on the top crypto exchanges in the next few days. This listing could expose Slothana to a massive user base, boosting demand and, subsequently, driving up the price.
Interested investors should attend the Slothana presale and participate before it’s too late.
