HomeNewsBullish Momentum: Dogecoin Breaks Accumulation Phase, Eyes $1 Price in 2024

Bullish Momentum: Dogecoin Breaks Accumulation Phase, Eyes $1 Price in 2024

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  • Mikybull Crypto predicts Dogecoin’s rise to $1, citing its exit from accumulation and upcoming “explosive” price movement.
  • Analysts like DonAlt echo the $1 Dogecoin forecast, suggesting its potential as a better investment than Bitcoin.

Mikybull Crypto, suggested Dogecoin (DOGE) has exited its accumulation phase, hinting at an imminent uptick. He predicts DOGE could ascend to $1, referring to this price as a “magnet target.”

Source → @MikybullCrypto

Addressing inquiries about the likelihood of DOGE reaching $1 by 2025, Mikybull expressed confidence in achieving this milestone within the year. His optimism is based on DOGE’s bullish monthly close, the first since 2021, describing the anticipated price movement as “explosive.”

Related: Whale Sell-Off: Dogecoin Price at Risk Amid Profit-Taking Wave

Other analysts, share Mikybull’s sentiment, considering a rise to $1 for DOGE plausible within this market cycle and positioning it as a potentially better investment than Bitcoin at that price point.

$DOGE to $0.2964 and beyond?

This outlook is supported by the growing enthusiasm within the DOGE community and the broader appeal of meme coins in the current market cycle, attracting new investment into DOGE’s sphere.

Source → @AltcoinSherpa

Altcoin Sherpa also sees potential for DOGE to hit $1, attributing part of this potential to Elon Musk’s endorsement. However, he remains cautious, suggesting the timing of such a surge is uncertain and that DOGE’s substantial market cap may moderate future gains compared to previous rallies.

Read more: Tesla Incorporates Dogecoin as Payment Method and Dogecoin Bulk Movement Alert to Robinhood

Recent activity highlighted by Whale Alert indicates DOGE acquisitions by whales, adding to the anticipation of a positive price movement

Two transactions through Robinhood involved over 200 million DOGE, fueling speculation of a strategic “buy-the-dip” approach by large holders amidst a complex market outlook for Dogecoin.

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Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: info@ethnews.com Phone: +49 160 92211628