Dogecoin could grow by 700% next year

Cryptocurrency analyst Ali Martinez said that the main Dogecoin meme-coin DOGE $0.07 Department Of Government Efficiency -3.34% Market capitalization $71.13 million VOL. 24 hours $1.06 billion has successfully overcome all major resistance levels and increased by 40%. The expert identified the price of $ 0.095 as a key support zone for the digital asset.

«As the support at $ 0.095 proved to be strong — thanks to 63,280 addresses that bought 3.2 billion DOGE — the way looks set for an upward journey. If this support stays strong, we could see DOGE looking to move closer to $ 0.14,» the analyst wrote in his profile on the X platform.

#Dogecoin has successfully cleared all major resistance levels!

With the $ 0.095 support proving strong — thanks to 63,280 addresses buying 3.2 billion $DOGE — the path looks set for an upward journey. If this support remains firm, we could see #DOGE aiming for $ 0.14 next. pic.twitter.com/QmfZ9kY5Dh

— Ali (@ali_charts) December 8, 2023

The chart shared by the analyst shows that more than 3.19 billion DOGE were purchased between the levels of $ 0.094 and $ 0.097, and 63,000 addresses took part in the auction.

Last week, another cryptocurrency analyst known as Captain said that Dogecoin is growing steadily and is ready to jump by as much as 700%. «The DOGE train has already left the station… There is an epic ride ahead…» the trader said. The analyst predicts that DOGE will make a huge breakthrough by July 2024.

According to the CoinMarketCap analytical tracker, at the time of writing, the main meme-coin is trading 1.54% lower than a day ago at $ 0.098. The total number of coins circulating on the market is $ 13.9 billion, and daily trading transactions exceeded $ 1.5 billion, an increase of 53.51%.