The cryptocurrency market is delighting investors with growth, and Dogecoin shows consistent gains driven by bullish signals and interest from large holders.
Dogecoin Price Forecast
Crypto analyst CryptoELITES forecasts the Dogecoin price could reach the $5 range, based on historical data and chart indicators. However, trader Trader Tardigrade identified a Descending Broadening Wedge pattern on the 4-hour timeframe, indicating a possible breakout and a price rise to $0.1780.
Signals from Major Investors
In the last 72 hours, whales have bought 1.7 billion DOGE worth $298 million. This indicates a bullish sentiment among large holders and the likelihood of increased activity. Analyst Lumen forecasts that if Dogecoin surpasses $0.20, it could surge to $0.50.
Potential ETF Approval Impact on Dogecoin
The U.S. Securities and Exchange Commission (SEC) has not yet approved a Dogecoin ETF. Despite the delay, experts believe regulatory approval is inevitable. Nate Geraci, president of ETF Store, also believes this could trigger a bullish surge and increase institutional investor interest.
Dogecoin continues to garner attention from both individual and major investors. Despite volatility, experts assess the cryptocurrency's growth potential as significant.
