Dogecoin (DOGE) Primed for Golden Cross, Analysts Predict 25% Gain by 2024
Technical Analysis Suggests Repeat of Bullish Pattern
A prominent crypto analyst anticipates a revival of a technical pattern that previously propelled Dogecoin (DOGE) to significant gains in early 2021. This occurrence, known as a "golden cross," has been observed on DOGE's price chart, signaling a potential reversal in the bullish trend.
Bullish Sentiment Surge
Record Bets on Dogecoin
The analyst's observation coincides with a surge in bullish bets on DOGE. The cryptocurrency has experienced a 40% surge in the past 24 hours, continuing a rally that has attracted investors seeking returns on blockchain-based assets.
Price Predictions for 2024
Several analysts have projected further gains for DOGE in the coming years. One prediction indicates a potential 25% increase by March 2024, reaching 0.18, driven by the robust buying sentiment and recent Bitcoin upswing.
An even more optimistic forecast predicts a 305% surge, potentially pushing DOGE to approximately 0.35 by March 2024, just before the halving event.
Popularity of Dog-Themed Tokens
The resurgence of DOGE has sparked interest in other dog-themed tokens. Dogecoin and Shiba Inu (SHIB) have both experienced significant gains this week, while newer entrants like Pepe Coin (PEPE), Bonk (BONK), and Dogwifhat (WIF) have more than doubled in price.
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