Dogecoin is one of the leading cryptocurrency tokens that has lately been grabbing central spotlight and attention. The token is trending for many reasons, primarily due to its close association with Elon Musk. The Tesla chief is ready to head the DOGE department, inspired by the token Dogecoin. Here’s how high Doge can spike this weekend; can it claim a new high soon?
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Dogecoin Token: What’s Happening
Source – Bitcoinist
Dogecoin is currently at $0.41, up 7% in the last 24 hours. It is gaining mainstream attention due to its close association with Musk. Elon Musk is all set to commence his new role as the chief of the Department of Government Efficiency (DOGE), fueling Dogecoin spikes and rallies in the process.
The token is also currently a crypto whale favorite. Doge has lately been undergoing several phases of retesting, which compelled Dogecoin whales to make the most of it.
According to Ali Martinez, a notable cryptocurrency analyst, Dogecoin whales have been super active lately, scooping up a sizable amount of Doge. The expert says these whales have accumulated nearly 210 million in Doge tokens while the token was encountering a recent price dip, making the most of the token’s latest retest.
#Dogecoin whales bought 210 million $DOGE during the recent price correction!
Furthermore, Ali shared how Dogecoin is already charting its own unique price path, gearing up to scale another high soon. The expert shared how lucrative the current doge price decline is and the fact that the retest is already pushing the token to claim the highly ambitious mark of $3.
“Check out where we are in the #Dogecoin $DOGE bull cycle! Very early, right? For that reason, I’m thankful for the dip and will buy more between $0.40 and $0.30. The target remains $3, and if things go wild, $18!
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The Token’s Price Path This Weekend?
As per CoinCodex, Doge can surge to maintain its stable price of $0.40 by December 15, 2024.
Source: CoinCodex
CC later adds that the token may notice a drop in its price by the end of December 2024, pushing the token to trade at $0.38.
Source: CoinCodex
“According to our current Dogecoin price prediction, the price of Dogecoin is predicted to drop by -6.05% and reach $0.385065 by January 11, 2025. Per our technical indicators, the current sentiment is neutral while the Fear & Greed Index is showing 74 (Greed). Dogecoin recorded 18/30 (60%) green days with 6.29% price volatility over the last 30 days. Based on the Dogecoin forecast, it’s now a good time to buy Dogecoin.”
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