- Dogecoin (DOGE) recently dipped but remains optimistic with expectations of a price surge.
- The current dip is a buying opportunity, with DOGE expected to surge significantly.
- Experts forecast a potential rally, with some predicting DOGE could reach $3 and, in an extreme case, $18.
Dogecoin (DOGE) has recently faced a notable decline in its value, driven by a sharp pullback in Bitcoin and other major altcoins. After reaching a high of $0.4835, DOGE fell to a recent low of $0.3847, reflecting a dip of over 20% from its peak. Despite the downturn, the popular meme coin remains bullish, with expectations of a significant price surge soon.
As of now, DOGE is trading at $0.40962, with a 24-hour trading volume of $25.77 billion, a market cap of $60.25 billion, and a market dominance of 1.71%. The price has decreased by 5.18% over the last 24 hours. This drop, however, is seen by many in the market as a temporary setback rather than a long-term trend.
Price Dip Sparks Optimism for Dogecoin’s $3 to $18 Surge
Despite the recent price drop, Dogecoin enthusiasts and market observers remain optimistic about its future. According to crypto market watcher Ali Martinez, the current market cycle for Dogecoin appears to be in its early stages, making the recent dip an ideal buying opportunity for long-term investors.
Martinez stated, “Check out where we are in the #Dogecoin $DOGE bull cycle! Very early, right? For that reason, I’m thankful for the dip and will buy more between $0.40-$0.30. The target remains $3, and if things go wild, $18.”
Martinez’s forecast is based on the idea that Dogecoin’s price could see massive gains in the future, with a potential rally driving the price up to as high as $3. In the most optimistic scenario, he speculates that DOGE could surge to $18, reflecting an exponential increase in value.
Another cryptocurrency trader, known as Trader Tardigrade, has pointed out that Dogecoin is currently moving from the oversold to the overbought zone on its macro chart, indicating that a price surge could be imminent. Tardigrade highlights that the coin has recently left the oversold zone and is heading toward the overbought zone, with a projected price range of $8 to $10 as the next potential peak.
According to Tardigrade, this could represent the top of the current cycle, with the price potentially correcting to a lower range of $0.80 to $1.80 before the next rally. He sees this price correction as an opportunity for investors to buy into the next phase of Dogecoin’s cycle.
With several experts predicting a significant bullish surge in the coming months, investors are advised to monitor market trends closely and consider the current dip a potential entry point for future gains. Dogecoin’s resilience and unique position in the crypto market make it one to watch as it navigates market fluctuations.
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