Ambitious Dogecoin Forecast from Expert Analysts: DOGE On The Verge Of 1,000 Percent Increase!
In his statements on Twitter, Justin Bennett, one of the popular names in the market, states that it is possible to experience a similar increase in Dogecoin (DOGE) in April. According to Bennett, there are similarities between the lines currently forming on the Dogecoin charts and the lines formed in April without a 13-fold increase.
Can Dogecoin Increase 1,000x?
In his statements, the analyst stated that the last two breakouts in Dogecoin brought 1,000 percent or more gains and said, “DOGE is doing what it does best. The last two breakouts triggered 1,000% or more gains. The latest consolidation took three times longer than the model before April.” used his words.
In addition, the analyst also stated that it is important to follow what may happen in the price of Dogecoin as Bitcoin continues to rise.
According to the chart shared by Bennett, DOGE draws a large ascending triangle pattern, which is an uptrend and indicates that an asset is in an uptrend. If Dogecoin Bennett’s predictions come true, the 10th largest cryptocurrency in terms of market cap could experience a massive increase of 1,150%. This means that the price could rise to $3.
In addition, Bennett states that he expects an increase in Dogecoin in the short term . If important resistances are broken, Dogecoin has the potential to increase in both the short and long term, according to the analyst .
Besides Bennett, another popular analyst, Altcoin Psycho, states that Dogecoin is currently consolidating under a resistance area, and therefore, it may start to rise soon .
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should perform their transactions in line with their own research.