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Dogecoin Price Analysis: DOGE Price Shot up 50%, Will It Hit $1 in 2021?

Highlights

    Dogecoin price surged with a sudden increase in the trading volume

    With the surge, the crypto community expects the DOGE price to touch $1 very soon

DOGE price has always spiked notably every time Tesla CEO, Ellon Musk talks about it. But this time, the crypto space was amazed by the sudden surge in the price without any comments from Mr Musk. 

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Surprisingly an analyst, Pentoshi, had already predicted the trend followed by Dogecoin since 2014 a couple of days before. As per the chart posted by the analysts, the price plunges to the lowest level, close to $0.0000001 and surges to the new highs since 2014.

Therefore if the same trend follows in the current bull run then DOGE price might rally to the highest possible levels or even might touch $1 in 2021.

Also Read : Dogecoin: A Worthy Investment Or A Mere Bubble?

Dogecoin Price Analysis – Will it hit $1?

The sudden spike with the DOGE price has made the entire crypto space very bullish about the asset and expect to touch new highs in 2021. Many analysts predict that Dogecoin will be the winner among all other altcoins in 2021 and may also touch $1 during the bull run.

Also Read : The Story Behind Dogecoin!

At the time of writing, DOGE price stands at $0.00712 with a jump of 46.96 percent in the last 24 hours. Initially, the first target of the DOGE price would be to hit and cross the current all-time high at $0.018773, forming the new one.

The support levels at $0.0031 and $0.0022 are very strong and hope the asset does not revisit these levels anytime from now. The technical indicators, RSI is about 80 which indicates a bullish trend for the asset. The indicators also point out towards a strong buy signal, due to which the asset may touch $1 very soon in 2021.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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