Super Bullish Dogecoin (DOGE) Price Prediction but is it Too Outrageous?
The post Super Bullish Dogecoin (DOGE) Price Prediction but is it Too Outrageous? appeared on BitcoinEthereumNews.com.
TL;DR Dogecoin surged 10% daily, with speculation linking the rally to Elon Musk, while analysts predict potential further gains. Despite the rise, its RSI over 70 suggests that the coin may be overbought and due for a pullback. Is DOGE Ready to Skyrocket? The leading meme coin is among the crypto sector’s top performers today (October 16), recording a 10% price spike. It currently trades just south of $0.13, while its market capitalization surpassed $18.6 billion. DOGE Price, Source: CoinGecko DOGE’s latest rally could be attributed to the overall revival of the industry, where Bitcoin (BTC) exceeded $67,500. On the other hand, other well-known meme coins have struggled to keep pace, witnessing more modest price increases. As such, some industry participants suggested that Dogecoin’s resurgence could have some connection to Elon Musk. To the uninitiated ones, Tesla’s CEO and one of the wealthiest people on the planet, is a huge proponent of the meme coin, often praising its merits. X user Bluntz was one of those supporting that theory: $doge going mental today while all the other memes have been sliding. somethings cooking and i cant help but feel its something elon related pic.twitter.com/2yyNiWnfQA — Bluntz (@Bluntz_Capital) October 16, 2024 Several analysts claimed that DOGE has yet to make the headlines by experiencing a price explosion. X user Ali Martinez presented a chart showing that the valuation could skyrocket to an all-time high of $10 in the following months. It is worth mentioning, though, that such a rally would require Dogecoin’s market cap to jump to over $1.4 trillion, making the forecast quite unlikely. Some people commenting on the post shared skepticism, describing the prediction as simply impossible: $doge going mental today while all the other memes have been sliding. somethings cooking and i cant help but feel its something…
Filed under: News - @ October 16, 2024 9:23 pm