- Crypto analyst ZAYKCharts predicts a significant 62% increase for DOGE.
- Recent technical analysis shows that Dogecoin is surpassing major resistance of $0.13.
- With increasing market adoption, Dogecoin could reach the new target price of $0.08521, benefiting investors.
Last week saw a 15% surge in DOGE’s value despite Bitcoin witnessing a surge of 6%. According to the insights from ZAYKCharts Dogecoin can skyrocket upto 60% from its current value in the upcoming weeks. The analysis shared via an X post reveals a bullish wave, marked by Dogecoin’s recent escape from a falling wedge pattern on the daily chart.
Over the last few months, Dogecoin’s performance has consistently trended upwards, with key daily candles sustaining above the previously restrictive descending trendline. This change in dynamics is likely to result from increasing investor confidence and broader market adoption of the cryptocurrency. ZAYKCharts’ latest forecast sets Dogecoin’s target price at $0.08521, suggesting a potential rise of 62.98% from its current level.
In the past month, Dogecoin price has exhibited a significant upward trajectory, climbing by 11%. The cryptocurrency’s recent price performance reflects a marked recovery, highlighted by peaks and troughs throughout the week. Starting from a low of $0.097, Dogecoin’s value surged to a high of $0.1431, demonstrating robust trading activity.
Over the past 24 hours, Dogecoin (DOGE) has experienced a significant price increase, surging by 6.79% to a current value of $0.1398. This upward trend has propelled the meme-inspired cryptocurrency to a market capitalization of approximately $20.3 billion, securing its position as the eighth-largest cryptocurrency by market cap.
The trading volume for Dogecoin also saw a noticeable boost, rising by 24.10% to reach $1.37 billion. This increased activity is reflected in the cryptocurrency’s price chart, which shows a sharp rise, particularly noticeable in the late hours, following a lower performance earlier in the day.
Technical indicators reveal bullish signals about Dogecoin’s future movements. The Relative Strength Index (RSI) stands at 64.76, indicating a near-overbought condition that could suggest a potential price stabilization.
Meanwhile, the Moving Average Convergence Divergence (MACD) shows a crossover between the MACD line and the signal line, hinting at possible bullish momentum. The MACD line is above the signal line, and the histogram bars are growing, suggesting increasing buying pressure.
