Imminent explosion for Dogecoin
Right now, it's XRP that's making the buzz, but it could soon be followed by Dogecoin. After the fear of selling pressure, the DOGE price is about to enter one of its most prosperous periods!
Investors indeed seem to be there since the market capitalization of the same coin exceeded 62 billion dollars this morning. This advance, accompanied by a significant bullish breakout, allowed Dogecoin to break its descending wedge pattern with a $0.50 short-term target. This is provided that it successfully retests the $0.40 support.
In addition, analyst Trader Tardigrade indicates that Dogecoin has entered a rapid growth zone. Present in all bull runs, this has led to monumental price increases and the current cycle should be no exception.
Ali Martinez also confirms the phenomenon but in another way. According to him, DOGE price broke a two-year-old descending channel, which could launch a 2,400% bull run in the coming months. So expect a target of $10 for 2025.
What are the prospects for December?
With this apparent upcoming explosion, a question arises: is $1 Dogecoin possible in December? Two elements show that this would be possible before Christmas. First of all, its current trajectory which is reminiscent of that of the bull market of 2021. Then then its entry into a rapid growth zone, knowing that the last time this happened, the DOGE gained 400% in around ten days.
So we could reach this goal by Christmas and even touch $2… at least theoretically. For their part, experts are much less sure. Ali Martinez suggests $0.80 is a top target for December. As for CoinCodex, the platform predicts that the DOGE price will stagnate at $0.50 and that the explosion will only happen in January.
The moral of the story: a new ATH yes, but Dogecoin at 1 dollar, no!
Disclaimer
Disclaimer: In accordance with The Trust Project guidelines, this price analysis article is intended for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased information, but market conditions may change without notice. Always do your own research and consult a professional before making any financial decisions.
