The early aftermath of the current Federal Reserve (Fed) interest rate cuts has been constructive for the final crypto business as main property like Dogecoin have been displaying optimistic sentiment.
Recent Federal Reserve (Fed) interest rate cuts have left a positive impact on the crypto industry, with major assets like Dogecoin showing bullish sentiment. This performance has sparked several optimistic predictions for DOGE, including some analysts suggesting the dog-themed meme coin could reach new heights soon.
Dogecoin’s Path To $1 Is Possible In 2024
As bullish sentiment around Dogecoin builds, Grasp Kenobi, a market analyst and trader, has outlined a potential timeline for the largest meme coin to reach the highly anticipated $1 price milestone. His bold prediction is based on historical cycle trends and recent price movements that could propel DOGE to this level within a year, showing his strong belief in its short-term potential.
According to the analyst, Dogecoin, after close examination of the current price action, may be on the cusp of a rapid growth period that has occurred throughout each crypto cycle. Meanwhile, this high-growth phase is expected to last for about 91 days.
Zooming out on DOGE’s chart on the 1-weekの時間枠, Kenobi highlighted that DOGE has printed its third consecutive green week, indicating a strong bullish outlook for the dog-themed meme coin.
So if the trend continues in a conservative scenario, Kenobi believes Dogecoin could reach the $1 mark by December 2. Meanwhile, in an optimistic scenario, the market analyst sees the meme coin rising even higher to hit the $2.8 price level.
Moreover, Kenobi outlined another conservative scenario that could see DOGE reach $1.25 in March 2025, and an optimistic one that could see the digital asset hitting the $3.5 level. Notably, Kenobi envisions these price points if history repeats and DOGE peaks for the second time after another 91 days.
Grasp Kenobi also highlighted his previous prediction, where he forecasted Dogecoin to be valued at $1.1 early next year, precisely by January 6, and valued at $3.8 by April 7.
Bien que Kenobi s'attend à ce que la pièce meme atteigne les niveaux susmentionnés dans le laps de temps, il a noté qu'ils pourraient même être plus proches qu'ils ne le paraissent, car plusieurs semaines vertes ont déjà été imprimées.
DOGE prêt à réaliser de nouveaux gains dans les prochains jours ?
Déterminer la prochaine direction des prix du Dogecoin est un défi en raison de la forte volatilité des actifs cryptographiques. Cependant, la pièce meme montre un sentiment haussier, ce qui pourrait conduire à davantage de gains dans les prochains jours.
Actuellement, DOGE s'est remis d'une baisse à 0,09 $ la semaine dernière pour s'échanger au niveau de 0,1087 $. Au cours des dernières 24 heures, DOGE a augmenté de 2 %, positionné à 0,1082 $. De plus, au cours de la période hebdomadaire, la pièce meme a enregistré des gains de plus de 7 %.
Selon les données de CoinMarketCap, le cours du DOGE poursuit sa tendance haussière malgré une baisse d'environ 3% de son volume de transactions au cours des dernières 24 heures.
Image en vedette d'Unsplash, graphique de Tradingview.com
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