After Tesla (NASDAQ:TSLA) CEO Elon Musk finalized his deal to buy on Twitter (NYSE:TWTR), one of his favorite cryptocurrencies – the Dogecoin (DOGE) meme token – surged soaring, which has led crypto analysts to try to predict where its price might go in the near future.
Given its behavior on the charts, there are several important levels to watch in order to predict the future price of Dogecoin, as identified by crypto trading expert and analyst Michaël van de Poppe in a
How do I play DOGE at this point?
According to Van de Poppe’s analysis, $0.15 is the short regional scalping area of the decentralized finance (DeFi) token. At the same time, $0.13 is reserved for long scalping, or as he explained more specifically, “mainly the hold zone, but probably playing the scalp long”.
Additionally, the expert identified $0.11 as the region for “bounce long area here for some 5-15% scalps”, as well as $0.085 for “long swing”. This, as Van de Poppe explained, is how he “would play DOGE at this point.”
DOGE Price Analysis
At press time, DOGE was trading at $0.138, down 5.65% on the day, but still a triple-digit weekly jump of 108.46%, adding to the growth monthly 130.44% of the dog-themed piece.
Meanwhile, Dogecoin’s market capitalization currently stands at $18.19 billion, making it the eighth-largest cryptocurrency by this metric, according to data retrieved by Finbold on November 2.
It’s also worth noting that the number of millionaires or Dogecoin-made retail investors who became millionaires through their DOGE investments recently jumped back above 1,000 after falling below that level in mid-2022 due of a broader crypto market decline and a downward trend in Dogecoin. .
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. crypto analyst identifies levels crucial prices monitor for Dogecoin