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Forecast for Dogecoin: Possible 30% Rise Ahead

Forecast for Dogecoin: Possible 30% Rise Ahead

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by Giorgi Kostiuk

7 hours ago

Dogecoin price saw a decline after a recent onset of volatility in the crypto market, but analysts suggest a prospect of further growth.

Key Events in Dogecoin Market

The price of Dogecoin withdrew after an active rally was observed in the cryptocurrency market. On Friday, August 24, DOGE surged by 15%, reaching $0.2400 before quickly losing momentum.

Analyst Predictions for Dogecoin

Popular crypto analyst Ali Martinez predicts a potential 30% increase in Dogecoin price due to a forming symmetrical triangle on the four-hour chart. He points out that a breakthrough above $0.2440 could lead to movement towards $0.30.

Technical Analysis of Dogecoin Price

The daily chart reveals an ascending channel, with DOGE residing near the upper section of the trading range. The increase in open interest in the futures market to $3.6 billion also indicates rising investor interest.

Despite recent fluctuations, Dogecoin may be on the brink of renewed growth if it surpasses key resistance levels.

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