{"id":178739,"date":"2023-07-21T03:39:23","date_gmt":"2023-07-21T03:39:23","guid":{"rendered":"https:\/\/precoinnews.com\/?p=178739"},"modified":"2023-07-21T03:39:23","modified_gmt":"2023-07-21T03:39:23","slug":"doge-price-prediction-analyst-says-dogecoin-could-surge-over-600-and-reclaim-0-50","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/altcoins\/doge-price-prediction-analyst-says-dogecoin-could-surge-over-600-and-reclaim-0-50\/","title":{"rendered":"$DOGE Price Prediction: Analyst Says Dogecoin Could Surge Over 600% and Reclaim $0.50"},"content":{"rendered":"
A popular pseudonymous cryptocurrency analyst known as Altcoin Sherpa has recently made a confident Dogecoin ($DOGE) price prediction, revealing he believes the meme-inspired cryptocurrency is set to see its value rise over 600%.<\/p>\n
In a series of tweets sent to their nearly 200,000 followers on the microblogging platform Twitter, Sherpa highlighted he believes DOGE can reclaim the $0.50 mark, representing a significant upside from its current $0.0709 price tag.<\/p>\n
Despite expressing optimism about Dogecoin\u2019s prospects, Sherpa cautions that this anticipated growth may take some time to materialize, which could deter long-term investors from exploring other potential opportunities The analyst also warned other memecoins, including $SHIB and $PEPE, could erode DOGE\u2019s momentum.<\/p>\n
Sherpa illustrated his analysis using a chart that indicated DOGE\u2019s breakthrough of resistance levels identified by exponential moving averages. The chart reveals that DOGE is currently retesting the 89-day EMA, a key indicator for identifying a trend reversal.<\/p>\n
The last time Dogecoin traded above the $0.50 mark was back in 2021, at a time in which search interest for the cryptocurrency explode, leading to a massive 10,000% price rally. Dogecoin was created back in 2013 as a joke.<\/p>\n
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
As CryptoGlobe reported, popular cryptocurrency analyst Micha\u00ebl van de Poppe has recently revealed he believes that the price of the meme-inspired cryptocurrency could potentially see a remarkable rally similar to the one $XRP saw earlier this month.<\/p>\n
The price of XRP is up over 65% over the past week over a recent ruling by a federal judge in New York that determined that XRP is \u201cnot necessarily a security on its face.\u201d<\/p>\n