Dogecoin (DOGE), the most popular meme token in the world, had an unexpected increase in value a few days ago, which prompted excitement among supporters. Nevertheless, its duration was not very long at all. As this article is being written, the value of the token has decreased by around 2% in only the last twenty-four hours.
In recent times, the DOGE cryptocurrency has not been doing all that well in general. But we shouldn’t throw away all of our optimism just yet. A well-known market expert forecasts that the value of dogecoin will shortly skyrocket dramatically.
Cantering Clark, a well-known pseudonymous analyst, recently informed the followers of his Twitter account that despite the fact that the 24-hour chart for DOGE is now negative, the top meme currency is actually bullish since it has continued to remain above its multi-month support level of about $0.07. At the time of this writing, one DOGE is equivalent to $0.0752.
The expert predicted that cryptocurrency traders would ultimately invest their profits from trading altcoins in Dogecoin, which would trigger a surge toward his goal price of $0.10, which would be a 30% increase in the current price.
His words were:
“There is simply no way that we see sector rotations and sustained pumps without seeing DOGE catch a bid. Multi-month value is holding as support. Lows back through November probed and then reclaimed. Looks good for much higher.”
Could 2023 Be DOGE’s Year?
After Dogecoin’s (DOGE) price hit a difficult patch in the previous months, crypto traders and investors have been attempting to anticipate what the future holds for the dog-themed meme coin this year.
Particularly noteworthy is the fact that significant cryptocurrency investors (known as “whales”) have lately started paying attention to Dogecoin. On the other hand, the token’s trading volume has dropped by approximately 40% in the previous 24 hours.
