In the near future Dogecoin (DOGE) should rise to $2021, an unseen level since 0,5, in a new upward move.
During the Trump pump, the price Dogecoin soared more than threefold, and on the daily chart the RSI index reached 93, indicating an overbought condition. Therefore, token expectedly fell by about a quarter. The index dropped to 50 and thus ended up in the neutral zone.
The last time a similar change in RSI was observed was in March 2024 and anticipated the start of a powerful bullish rally. In this regard, the analyst known by the pseudonym Trader Tardigrade, predicts growth in the value of DOGE to at least $0,5, which is 19% higher than the current figure.
Comparison of exchange rate changes Dogecoin and the RSI index in December and March 2024
However, members of the crypto community believe that the rate Dogecoin will update the multi-year maximum only if a catalyst for the bullish trend appears. This could be, for example, the next publication by Elon Musk, who is nicknamed the Father Dogecoin for the love of the token meme.
In addition, one of the social network users also advises to monitor the fluctuations in the value of Bitcoin. According to him, if the price of BTC falls to $90000-91000, then you should not count on a pump in the DOGE rate. Recently, the value of Bitcoin has again consolidated above $100,000, so the probability of the cryptocurrency rate collapsing to $90,000 is extremely small, respectively, the price Dogecoin there is a chance to reach $0,5.
