Dogecoin is one of the most promising cryptocurrency tokens in the current market. Dogecoin has been highly sought after because it is one of the tokens publicly discussed by Tesla CEO Elon Musk. As Musk establishes official contact with the White House through Dogecoin, the token may soar to unprecedented heights and quickly set new highs.
Dogecoin is about to reach $0.82
Dogecoin is currently priced at $0.42, down 3% in the past 24 hours. The continued volatility in the price of Dogecoin is due to the price fluctuations of Bitcoin. Over the past two days, the king of this cryptocurrency has declined slightly, stabilizing at $98,000 as of the time of writing.
However, due to its close relationship with Tesla CEO Elon Musk, Doge is destined to receive high attention. Now that Musk is ready to take over the DOGE department, the abbreviation suggests that Doge's expected price will soar, and if the market supports it, this rise may last for a long time.
Furthermore, the renowned cryptocurrency analyst Ali has shared an amazing price analysis of Dogecoin, stating that the token may soon reach the $0.82 price level. According to Ali, Dogecoin is currently forming a bullish pattern on its chart, suggesting a potential 120% price increase. If Dogecoin continues to maintain the $0.37 support level and does not fall further, it may soon reach the coveted $0.82, provided it continues to leverage the current market momentum.
"Dogecoin $DOGE is in a bullish trend to break through $0.82!"
As Ali mentioned, Doge is currently in the mid-term bullish breakout, and if the momentum is supported, the token may reach the coveted price level before the end of 2024.
December Token Price Forecast
As December approaches, expectations for Doge to set new highs are also soaring. However, according to CoinCodex data, Doge may decline by 6% in December, reaching a price of $0.39 by December 25, 2024.
"According to our current forecast for the Dogecoin price, we expect the Dogecoin price to decrease by -6.28%, reaching $0.394263 by December 25, 2024. Based on our technical indicators, the current market sentiment is bullish, and the Fear and Greed Index shows 82 (Extreme Greed). Over the past 30 days, Dogecoin has had 20/30 (67%) up-trending days, with a price volatility of 40.27%. According to the Dogecoin forecast, now is a good time to buy Dogecoin."
