How High Should Dogecoin Price Rise to Turn $10K to $100K? – Crypto News – Crypto News
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How High Should Dogecoin Price Rise to Turn $10K to $100K? – Crypto News

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3 weeks ago

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Dogecoin price continues to stall this week at the crucial support point at $0.15. Still, some crypto analysts believe that this consolidation could be calm before the storm before it stages a strong comeback. This article explores whether the DOGE price will rebound and how high it needs to rise to convert $10K to $100K.

Dogecoin Price Target to Convert $10K to $100K

Some analysts and investors believe that Dogecoin is one of the top meme coins that can help you convert $10K to $100K. As such, one needs a 900% surge to convert $10K to $100K. 

With the Dogecoin price trading at $0.15, it needs to jump by 900% to $1.5200. This means that it needs to soar above the all-time high of $0.7375, then cross the psychological point at $1, and then move to $1.52. 

A 900% surge seems unrealistic to most assets. However, history shows that such big moves are possible in the crypto market. Besides, Dogecoin price has surged by over 58,300% since inception. It jumped by over 850% from its lowest point in 2023 to its highest swing in 2024.

Some top cryptocurrencies have had similar pumps before. For example, before the Mantra price crash, it was up by over 1,000% in the last twelve months. XRP and XLM also went parabolic in November last year. 

Some crypto analysts believe that the Dogecoin price has more upside this year. One of them, Javon Marks, noted that the coin has formed a bullish divergence on the daily chart, pointing to a 150% surge to $0.40.

Dogecoin Price Forecast
Dogecoin Price Forecast

DOGE Price Technical Analysis

The weekly chart points to a strong bullish breakout in the longer term. It has dropped to $0.15, a notable level since it coincides with the ascending trendline linking the lowest swing since October last year. 

The coin has formed a giant megaphone chart pattern, which is characterized with two broadening trendlines. It has now moved to the lower side of the wedge, pointing to an eventual surge in the coming months. 

Therefore, there is a possibility that the Dogecoin price will bounce back, and possibly retest the upper side the megaphone at $0.60, which is a 280% surge from the current level. 

The main caveat for this is that this pattern has formed on the weekly chart. This means that it may take months for it to hit the upper side of the wedge. For example, it has taken five months to drop from its upper side to the lower one. 

Dogecoin Price Chart
Dogecoin Price Chart

Therefore, this means that the Dogecoin price will take months or even years to get to $1.52 and convert $10K to $ 100 K. 

A drop below the lower side of the wedge will invalidate the bullish DOGE price forecast and point to more downside.

The post How High Should Dogecoin Price Rise to Turn $10K to $100K? appeared first on CoinGape.

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