Crypto Jmorg analyst has provided an in -depth technical analysis, which shows what could happen DOGUE PRICE of its current levels. The first piece of memes has already fallen below the psychological level of $ 0.2 as part of a wider correction of the cryptography market.
What could the price of DOGECOIN look from the current levels
In a TradingView PostJMorg said Dogecoin has a significant momentum behind his Current price actionWhich is obvious in the monetary flow index (MFI). He noted that the indicator accelerates a very low and trendy momentum above the weekly time.
The analyst has also noticed that the width of the Bollinger group is shrinking from historic stockings, which could possibly be the catalyst for the volatility necessary for Doge to return or exceed its current time (ATH). He said Dogecoin could reach $ 1 on the basis of a Measured displacement of the cup and the cup. Meanwhile, the first piece of memes could receive $ 0.95 on the basis of the measured movement of an escape from the rectangle.
Comment Fibonacci’s retracementJmorg said that, given the momentum and the potential increase in volume, a trace of the current ATH of $ 0.73 seems likely. The analyst added that a break and the continuation of the upper advance would put Dogecoin nearly $ 1.20.
He continued to refer to The historic Dogecoin modelwhich saw the record earnings of the same corner of 8,000% and 2,000%. The analyst noted that a gain of 8,000% would bring DOGE to $ 15, or a market capitalization of 2.3 billions of dollars. JMorg pointed out that this seems unlikely, because BTC has a market capitalization of around 2.2 billions of dollars.
However, the analyst has highlighted a scenario where the Bitcoin price brings together $ 200,000, then an escape from the corner model sends Dogecoin to $ 15. He pointed out that such a scenario makes the price target of $ 15 more realistic and that, since the crypto is unpredictable, anything is possible.
Factors that could send DOGE to new heights
In his analysis, Jmorg has also described the factors that could send the price of Dogecoin to new heights. First, he declared that the mid-term elections imported and that he suspects that the Trump administration will do everything possible to maintain DC control, which would probably lead to Pro-Crypto policies.
The analyst added that pro-Crypto policies and deregulation could be a powerful rear wind for the American economy, which would help keep people employed and, ultimately, to maintain high prices of assets.
Another factor that Jmorg has described is Dogecoin FNB. He noted that the approval of these funds seems likely, which could provide an important source of demand. The FNB DOGE would stimulate institutional entries, which could trigger an increase in prices for the memes piece.
The latest factor is the potential integration of dogecoin payments on The social media platform X. The Crypto analyst noted that it does not seem unrealistic, since Elon Musk is a big fan of the memes play. Like ETF DOGE, he said it could provide a source of request for the memes piece.
When writing data from CoinMarketCap.
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