Tardigrade Trader: Dogecoin could rise by 1300%

Editor’s note: not financial advice!

Cryptocurrency analyst Trader Tardigrade predicts that the price of Dogecoin DOGE $0.07 Binance-Peg Dogecoin -0.82% Market capitalization $0.18 billion VOL. 24 hours $14.82 million could grow by more than 1000%, reaching $ 1.6.

The analyst claims that the cryptocurrency is in the Falling Wedge formation, which usually implies further growth of the meme-coin. According to his forecasts, Dogecoin can repeat previous growth cycles and grow by 1300% from the current price, which is held at around $ 0.11.

This hypothesis is supported by the recent increase in activity of Dogecoin whales, which accumulated more than 1.4 billion tokens worth about $ 140 million in just 48 hours. This indicates a significant interest in Dogecoin among large investors.

Just a week ago, crypto trader Captain Faibik claimed that Dogecoin is close to breaking through an important resistance level, which could trigger a significant price increase to $ 0.21, a level that the digital asset has not reached for a long time. Additionally, crypto analyst Ali confirms the optimistic outlook for the meme coin, noting that the Relative Strength Index (RSI) indicates a possible break in the downtrend.