In a previous article, we raised the flag on Dogecoin prices. The reason for adding DOGE to our radar had to do with bullish sentiments in the crypto market as well as strong fundamentals. They seem to have had a positive impact on DOGE investors. Why is Doge standing? Where will DOGE reach next? Let’s analyze in this DOGE price prediction article.
Why is DOGE standing up?
There are 3 main factors why the DOGE price is rising. Two of them are fundamental reasons, the third is technical:
- Crypto has been consolidating for a long time: Long consolidations following a downtrend often result in higher prices.
- UK Just Approved Cryptos: this not only builds confidence in the crypto market, but also encourages investors to dive back in with more confidence. This is especially true after what is happening in the EU from an economic point of view.
- Elon Musk officially buys Twitter: the deal was finalized and Elon officially entered the Twitter building with a sink after his tweet saying “Let it flow”. Doge tokens were used in the boring business as payment. With Twitter today, DOGE could become the tipping token on this platform. This is all the more true since Binance was among the investors who helped Elon with his purchase.
Is DOGE dead?
Doge is far from dead, as its prices have shot up 85% since last week. This is a clear sign of a comeback, especially after prolonged consolidation. If we look at Figure 1 below, we can notice that prices have climbed over 30% in the last 24 hours. With a market capitalization of around $14 billion, DOGE is certainly not dead.
Doge Price Prediction – Will DOGE Recover to 75 Cents?
With such a price surge and a positive crypto market, DOGE should return to its previous price zones. This is all the more true as DOGE succeeded in breaking the psychological barrier of 10 cents. We expect a few fixes along the way, though. The price increase in Figure 2 is not sustainable. For a healthier uptrend, we expect prices to correct towards $0.093 within the 23.6% Fibonacci retracement.
After this adjustment, if the crypto market proves that its bullrun is in place, DOGE should have no problem reaching its previous price of 75 cents. However, this is not expected to happen anytime in 2022.
Where to buy DOGE?
There are many exchanges that offer DOGE. We at CryptoTicker recommend the exchanges below, as they have proven to be safe, secure and have good liquidity:
How to buy Doge?
After choosing one of the above exchanges, you need to do the following:
- Create an account with this exchange
- Verify your account (by submitting your legal documents)
- Funding your account (by bank transfer, credit card or any other means provided by the exchange)
- Selection of DOGE from the list of cryptocurrencies
- Buy DOGE
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