Dogecoin To Bring Golden Time In The Next Coming Months! Right Time To Hold DOGE For Long-Term?

Tesla’s CEO elon musk elon musk founder, ceo at tesla, spacex Elon Musk is an enthusiastic cryptocurrency believer, quivering the crypto world through his sparkling tweets. He has a complex relationship with cryptocurrencies. His tweets solely are responsible for the crypto volatility. Musk splendidly purchased $1.5 billion in the king of cryptocurrency. He was born on June 28, 1971, and is based in Pretoria, South Africa. His mother is Maye musk and his father is Errol musk, he is a South African electromechanical engineer, pilot, sailor, consultant, and property developer.   He graduated from the University of Pennsylvania, earning a bachelor's degree in Arts and physics, and the Wharton School, earning a bachelor's degree in science, and economics. Musk was honored by Axel Springer Award, an annual award given to remarkable personalities who are extremely innovative, build new markets and change markets, shape culture, and confront their social responsibility.   In 1995, Elon Musk and Greg Kouri founded a web software company called ZIP2. The company developed and marketed an Internet city guide for the newspaper publishing industry, with maps, directions, and yellow pages.X.com and PayPal: in 1999, he co-founded X.com  which is an online financial service and email payment company. Space X: on 14, March 2002 he founded space x company which provides space transportation services.   On July 1, 2003, he founded TESLA. Tesla is an electrical vehicle and clean energy company which designs and manufactures electric cars, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and so on. His other activities involve SolarCity and Tesla Energy, Neuralink, the boring company, Managerial style and treatment of employee Hyperloop, openAI music, and ventures. Etc. he made $165 by selling PayPal to eBay. And was first listed on the Forbes Billionaires List in 2002, with a total net worth of $2 Billion. [email protected] EntrepreneurInvestorChief Executive Officer respect for Dogecoin has been evident in the price chart as it continues to be the most aggressive meme coin in the crypto market.

Dogecoin has gained over 250% in its value since Elon Musk acquired Twitter on 25 October, and it continues to pump due to high buying pressure and demand.

The current price movement of DOGE has already grabbed the attention of multiple crypto analysts to give their predictions on its future price movement.

According to an analyst, Dogecoin may witness an enormous rise in the next five years, making it a good investment option in the long term. 

Dogecoin Paves Its Way To Moon!

Elon Musk has greatly impacted the price of Dogecoin and contributed an immense rise to the meme coin amid the crypto winter.

dogecoin dogecoin Cryptocurrencies now seems to change the fortune of investors and map portfolios once again, as it has generated a great ROI in the last few days.

Recently, a famous crypto strategist, AltstreetBet, predicted that Dogecoin might attain a maximum price range of $2-$5 in the next few years. 

According to AltstreetBet, Dogecoin may continue its current market trend by following Doge-father’s further movements in the market.

As a result, Dogecoin may touch a resistance level of $0.3 in 2024 and then face rejection before kicking off a significant bearish trend to $0.03 by the beginning of 2026, indicated as wave 4. The analyst further predicted that DOGE might form a wave 5 after completing wave 4.

In wave 5, Dogecoin is projected to experience incredible growth in the price chart as it can touch a maximum price range of $2-$5. However, wave 5 may be shortened as wave 1, and wave 3 were extended.  

Dogecoin Forms A Bearish Candle

The Twitter-inspired upward rally has put a stop to the DOGE price as it faces rejection at $0.15 and forms a long bearish candle on the daily price chart. Dogecoin fell from a high of $0.158 to a low of $0.124 yesterday, as whale investors continue to create selling pressure. 

Looking at the daily price chart, the hype of the meme coin may soon come to an end as investors are now looking to liquidate their holdings after booking a significant profit due to ‘sell the news’ (Musk’s Twitter acquisition).

The RSI level also does not support Dogecoin’s current trend, as it has dropped from a level of 91 to 79.

The Bollinger band’s lower limit is at $0.11, an immediate support level for DOGE. If Dogecoin drops below this support level, it can have a sharp decline to its fundamental support level of $0.07. 

Conversely, the MACD indicator favors Dogecoin’s bullish momentum as it trades upward. Moreover, SMA-200 or Mayer Multiple trades at 1.83, the highest since June 2021. As a result, Dogecoin may slightly make an upward correction before dropping rapidly in the price chart.

Katie Stockton, the founder of Fairlead Strategies, said, “Dogecoin rallied over 100% last week on speculation of integration with Twitter. The surge is meaningful on its chart, noting the breakout above the 200-day MA and former peaks.”