Numerous top-tier traders are eyeing the $1 mark for Dogecoin. However, the question arises: why? Some say it’s just a matter of time, and big traders like Tree of Alpha hint that those who don’t buy DOGE at 7 cents or 16 cents might regret it when hits $1.
Numerous top-tier traders are eyeing the $1 mark for Dogecoin. However, the question arises: why? Some say it’s just a matter of time, and big traders like Tree of Alpha hint that those who don’t buy DOGE at 7 cents or 16 cents might regret it when hits $1.
Currently, DOGE is around $0.17. That’s a nice jump from where I was a while ago. The chart shows us that DOGE has been dancing above the support level near $0.11, which acts as a safety net for the asset at the moment. If it holds above this line, it could be in a solid position to move higher.
The resistance level? That’s about $0.18. A break above it would potentially mean an acceleration of the current rally. And if so, the next stop could be the much talked about dollar. But DOGE has a few steps to climb before it gets there, including important psychological levels like $0.5, $0.75, etc.
For DOGE to reach the moon, a couple of things could help. It could get a big boost if it starts being used for payments on some large platform. And don’t forget Elon Musk, the unofficial cheerleader for DOGE. His tweets have made him fly before.
So will DOGE catch up with the dollar? No one knows for sure, but traders with proven experience and track record believe in DOGE’s upside potential. If you are watching or holding DOGE, keep an eye on local resistance levels. In the event of a breakthrough, we could be on our way. But like any investment, there is always risk.
