Dogecoin Price: ‘$6.9 Is A Magnet’, Analyst Predicts 🐶
Dogecoin has experienced a sharp decline within the last 24 hours, dropping from above $0.25 to as low as $0.148. Crypto analyst Kaleo argues that despite the recent downturn, Dogecoin is on track to achieve new all-time highs. He forecasts a $6.90 price point, considering it a 'magnet'.
Kaleo bases his predictions on historical patterns observed post-Bitcoin halvings, which have previously led to substantial Dogecoin rallies. The analyst expects that if Bitcoin reaches a $500,000 valuation, Dogecoin could similarly see significant gains due to market cap math, potentially reaching a $1 trillion market cap.
However, the current dip poses challenges, with Dogecoin trading at $0.1971, a 21.4% decrease. Key recovery above $0.25 is crucial for restoring bullish momentum, amid fears of continued bearish trends.
Source: www.newsbtc.com ↗
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