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Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
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Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Dogecoin Price Prediction: Expect 60% Liftoff If This Channel Breaks: Analyst

Scott Matherson
Scott Matherson
1 month ago
3 mins read
Dogecoin

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Crypto analyst MMBTtrader has predicted that the Dogecoin price could record a 60% rally from its current level. He highlighted an ascending channel that the foremost meme coin needs to break above to witness this massive uptrend. 

Dogecoin Price Eyes 60% Rally To $0.4

In a TradingView post, MMBTtrader predicted that the Dogecoin price could rally to as high as $0.4 once it breaks above the ascending channel at around $0.243. He claimed that with good volume, the market will pump nonstop. The analyst is confident that this will happen, declaring that the breakout will be huge and that a 60% rally is a likely target. 

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MMBTtrader also stated that the market would be extremely bullish if the Dogecoin price should rally to this $0.4 target. He predicted that the $0.75 and $1 price levels will be in sight once DOGE reaches $0.4. A rally to these $0.75 and $1 targets would mark new all-time highs (ATHs) for the leading meme coin. 

Dogecoin
Source: MMBTrader on Tradingview.com

DOGE has sometimes lagged behind other meme coins. However, the crypto analyst expects the Dogecoin price to pump massively this time and be “a leader of memes for weeks.” The meme coin looks to be already leading the way, standing out as one of the top gainers during the current crypto market rally.  

The Dogecoin price has broken above the psychological $0.2 level and looks ready to reach new highs in the coming weeks, with a break above the $0.42 level, MMBTtrader highlighted. Fundamentals, such as the potential launch of Dogecoin ETFs, could serve as a tailwind for higher prices. Bloomberg analysts James Seyffart and Eric Balchunas predict there is a 90% chance the SEC will approve these funds this year. 

Only A Matter Of Time For DOGE

In an X post, crypto analyst Kevin Capital remarked that it is only a matter of time before the Dogecoin price makes its move back up to between $0.28 and $0.30 and then “well beyond.” He added that as long as the Bitcoin price holds up and continues to show strength, this move for DOGE should come sooner rather than later. 

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Dogecoin Price Prediction: Expect 60% Liftoff If This Channel Breaks: Analyst

1 month ago

Crypto analyst Trader Tardigrade revealed that the DOGE/BTC pair has formed a Cup-and-Handle pattern and broken out of the trendline. He had noted that this bullish pattern suggests that the meme coin may outperform the flagship crypto. The analyst added that the Dogecoin price has gained strong momentum. This recent analysis echoes an earlier prediction, when Trader Tardigrade also stated that DOGE may soon show a God candle on its BTC pair. 

At the time of writing, the Dogecoin price is trading at around $0.24, up 14% in the last 24 hours, according to data from CoinMarketCap.

Dogecoin
DOGE trading at $0.23 on the 1D chart | Source: DOGEUSDT on Tradingview.com
Featured image from iStock, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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