Analysts predict Dogecoin’s growth by 260%

Cryptocurrency analyst Kevin, known for his Dogecoin predictions DOGE $0.12 Department Of Government Efficiency -8.34% Market capitalization $0.12 billion VOL. 24 hours $0.85 billion , confirmed his optimistic view of the meme-coin. He noted that the value of DOGE could rise to $ 1.30-$ 1.50 (by 260%), calling this range a «point of interest.» The analyst recalled his previous forecasts, where he determined that the potential price of DOGE in a real bull cycle could reach $ 0.93 in the case of good dynamics, $ 2.27 in the case of significant overperformance, and up to $ 3.80 in the case of «astronomical growth.»

Despite optimistic forecasts, technical indicators are currently showing mixed signals. For example, the Relative Strength Index (RSI) fell below 70, remaining in the neutral zone. Another indicator, the Moving Average Convergence Divergence (MACD), is showing a sell signal as the MACD line has crossed the signal line from top to bottom.

The situation was also affected by general market fluctuations caused by political instability in South Korea. In addition, long-term holders of Dogecoin continue to sell their assets, as evidenced by a 0.88% decrease in their balance sheets over the last period. However, the large volume of transactions increased by 41%, which indicates the activity of the so-called «whales» — investors with significant assets.

At the time of publication, Dogecoin was trading at $ 0.4163, down 1.07% from the previous day. Despite the short-term difficulties, analysts continue to monitor the market in search of confirmation of their forecast.