In a Twitter post, the analyst stated that DOGE has become one of the altcoins with a “strong position” and could well rise by 20%. Now the 200-day MA is at $0.075, which is a strong resistance level, so the price of the coin is unlikely to go lower.
“DOGE has become one of the few altcoins that looks very strong. I can’t say to what levels the coin will grow, but I won’t be surprised if the growth continues to at least $0.09 in the near future,” wrote Altcoin Sherpa.
The colleague was supported by analyst Ali Martinez. He stated that the Dogecoin chart is drawing a descending triangle. Last year, the coin, having broken through the upper border of a similar triangle, grew by 23,000%, so Martinez expects a large-scale growth of meme cryptocurrency.
A few days ago, DOGE rose 9% after being mentioned by Elon Musk on Twitter.
Source: Bits
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