{"id":184442,"date":"2023-12-06T05:39:18","date_gmt":"2023-12-06T05:39:18","guid":{"rendered":"https:\/\/precoinnews.com\/?p=184442"},"modified":"2023-12-06T05:39:18","modified_gmt":"2023-12-06T05:39:18","slug":"crypto-analyst-shares-700-dogecoin-doge-price-prediction-ahead-of-epic-pump","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/altcoins\/crypto-analyst-shares-700-dogecoin-doge-price-prediction-ahead-of-epic-pump\/","title":{"rendered":"Crypto Analyst Shares 700% Dogecoin (DOGE) Price Prediction Ahead of \u2018Epic Pump\u2019"},"content":{"rendered":"
A popular cryptocurrency analyst has recently suggested that the meme-inspired cryptocurrency Dogecoin ($DOGE) could surge around 700% from its current levels after saying that the \u201cDOGE train has already left the station.\u201d<\/p>\n
In a post on the microblogging platform X (formerly known as Twitter), pseudonymous crypto analyst Captain Faibik noted that he believes an \u201cepic pump is incoming\u201d for the meme-inspired cryptocurrency.<\/p>\n
In the post, Faibik shared a chart showing DOGE\u2019s potential climb from around $0.09 where it\u2019s currently trading to $0.70 per token.<\/p>\n
His comments come at a time in which the meme-inspired cryptocurrency has seen the total number of addresses on its network with a balance surpassing the 5 million milestone after a significant surge over the last few weeks amid rising cryptocurrency adoption.<\/p>\n
The rise came amid a growing number of confirmed transactions on the Dogecoin network as the cryptocurrency\u2019s price rose around 16% over the past 30 days to now trade at $0.08 per token.<\/p>\n
It also came after a \u201cmassive amount\u201d of older DOGE started moving out of wallets that has been dormant, in a sign that the price of the meme-inspired cryptocurrency could soon move upward.<\/p>\n
While a rise in open interest typically signals a bullish sentiment among futures traders, an excessively high or sudden spike can serve as a bearish indicator, hinting at an impending shift in market trends as traders potentially initiate short positions.<\/p>\n
DOGE has historically seen significant rallies over short periods of time. Back in 2021, \u00a0search interest for Dogecoin\u00a0exploded during the cryptocurrency\u2019s massive 10,000% price rally, going from an average of 135,000 monthly searches in April 2020 to 16.5 million in April 2021.<\/p>\n
Dogecoin was created back in 2013 as a joke. The cryptocurrency\u2019s community is well-known for taking on\u00a0philanthropic projects, which included helping charitable organizations. It\u00a0made headlines\u00a0in 2014 after raising more than $25,000 worth of DOGE to let the Jamaican bobsleigh team attend the Winter Olympics in Sochi.<\/p>\n