Can DOGE coin soar 10 times again? Analyst reveals data: it will fly to this point from the weekend

Can DOGE coin surge another 10 times?

This morning, BTC ($BTC) successfully broke through $100,000, igniting a frenzy in the entire encryption market. Among many big pump AltCoins, the Dogecoin ($DOGE), known as the king of meme coin, performed particularly well, recording a nearly 6% increase in a single day.

Looking back at the period from November to now, in the past 30 days, shitcoin has already experienced a big pump of over 170%. Despite entering a consolidation phase later on, the breakthrough of BTC this morning undoubtedly gave another shot in the arm to shitcoin investors.

Recently, cryptocurrency analyst Kevin made a bold prediction about the trend of DOGE coin. He pointed out that the current consolidation phase may be the calm before the storm, and DOGE coin is expected to achieve a 10-fold increase.

Analyst reveals historical data

Kevin mentioned that during the last Bull Market cycle, DOGE ($DOGE) experienced a similar pattern: after a big pump, it consolidated for 24 days, and then soared again, reaching what he called the "macro golden pocket".

And this time is no exception, Kevin pointed out that DOGE has formed a symmetrical triangle pattern close to a breakthrough on the 4-hour chart, and is testing the major trend support line of the daily RSI.

Image source: TradingView $DOGE price chart

Kevin emphasized that if DOGE continues to follow the pattern of the previous cycle, the next wave of growth may start this weekend. $DOGE will once again challenge the macro gold pocket. From the perspective of 1.618 Fibonacci extension level, it is expected to challenge the price range of 3.80-4.00 US dollars in this round of Bull Market.

Despite Technical Analysis providing direction, it is still difficult to achieve an increase of more than 10 times and reach a price of $4 just by looking at the current situation of $DOGE. Kevin also added that although we may not see a price of $4 in the short term, there is still a chance for DOGE to break through $0.7316 and set a new high before the end of 2024.

After Bitcoin broke through 100,000 this morning, Kevin believes that in the next period of time, the effect of capital overflow will dominate the market, and altcoins will receive infusion, which will be significant Favourable Information for the DOGE and altcoin market.

【Disclaimer】There are risks in the market, and investment should be cautious. Analyst views are for reference only, and users should refer to more diverse indicators to determine whether to invest, and consider whether any opinions, views, or conclusions in this article are suitable for their specific situation. Invest at your own risk.

"Can DOGE coin soar 10 times more? Analyst reveals data: It will fly all the way to this point starting from the weekend" This article was first published in 'encryption city'