Even after a number of advancements, including as the team’s revelation that a physical DOGE currency will being launched to the moon, Dogecoin is still smashing the charts.
However, considering that indications continue to hint to a positive breakthrough for the price, these events are not the only factors influencing the price.
SHIB’s: Analyzing How High It Can Go in November 2023
Dogecoin Indicator for 23000% Increase
The indication that caused the previous time the price of Dogecoin surged by 23000% has been found by cryptocurrency expert Tony The Bull. The 1-Month (1M) Parabolic SAR generates this signal, which has the potential to push the price of DOGE beyond $10.
Can Dogecoin Hit $18? Analyst Points to 23000% Surge Signal,Can Dogecoin Hit $18? Analyst Points to 23000% Surge Signal
In order to put this into perspective, this indicator last aligned itself in 2021. Elon Musk was posting at the height of his popularity during this time. Thus, in conjunction with the bullish signal, it drove the price higher and higher till it increased by almost 23000%.
As a result, in 2021, the price of Dogecoin increased from $0.0025 to $0.7. If this pattern continues, the price may rise beyond $18 at the apex of the surge, assuming it exhausts itself completely at 23000%.
It could take some time for this indication to completely manifest, though, similar to when it did so previously. It took the meme currency little under a year to finish its 23000% advance after the parabolic SAR showed for the first time, as the analyst explains in a different piece.
DOGE Metrics In Progress
Despite a little decrease in price during the past day, Dogecoin’s stats indicate a long-term uptrend. The remarkable increase in its trading volume over the last day serves as one illustration of this. The meme coin’s daily trading volume has increased by over 100% to $1.9 billion as a result of the increased interest in it.
This implies more buying and selling, but the price is anticipated to keep rising as long as demand remains strong. In addition, excitement for the December launch of Dogecoin’s voyage to the moon will grow, and it may attract new investors to the asset.
Contrasting Trends: DOGE’s 10% Daily Surge as BTC, Altcoins Retrace
As of right now, Dogecoin is among the market’s top gainers, having retained a sizable percentage of its 24-hour gains. Its value increased by more than 8% in a single day, crossing $0.086. However, the price of DOGE has subsequently decreased to $0.0839, showing gains of 3.88% on the daily chart.
Can Dogecoin Hit $18? Analyst Points to 23000% Surge Signal,Can Dogecoin Hit $18? Analyst Points to 23000% Surge Signal,Can Dogecoin Hit $18? Analyst Points to 23000% Surge Signal , Dogecoin Crypto news, Dogecoin News