Will the price of Dogecoin increase by 200 %, with the prospects for the approval of DOGE ETF approval? 75 %?
Dogoin price has gained attention as analysts expect a possible 200 % increase amid increasing speculation about ETF DOGCOIN’s approval. Market participants are closely monitoring price movements, as many expect that Dog will exceed the highest level ever at $ 0.739.
Since the US Securities and Exchange Committee (SEC) is reviewing multiple requests for Dogeco ETF, merchants and investors expect greatly.
Dogecoin ETF files and market expectations
GrayScale, Coinshares and Wisdomtree investments have submitted requests for ETF DOGECOIN, with the aim of providing investors with organized exposure to cryptocurrency. SEC admitted to depositing Grayscale, indicating the start of the official review process.
If approved, ETF can attract institutional investors, and may lead the price of Dogecoin.
It seems that the organizational feelings towards encrypted currencies are transformed, especially under the current administration. Recently, SEC has dropped a lawsuit against Coinbase, which reflects a more suitable position for encryption. This change has caused optimism regarding the approval of investment products in the new Crypto, including Altco ETFS such as XRP, Litecoin, Hedra and Dogecoin Etf. Thus, analysts suggest that if ETF gets approval, Dogecoin may see a significant increase.
Technical indicators indicate
The scheme’s analysis indicates that the price of Dogecoin may prepare for penetration. Fallow wedge pattern formed on the graph for four hours, and Dog has separated from this composition. This style is usually seen as a bullish sign, indicating more price gains.
The main indicators also indicate a potential upward movement. The average trend index (ADX) is 27.95, indicating that the trend is formed. Meanwhile, the RSI index rose to 43.67, recovering from the conditions of sale. If the RSI crosses above 50, the bullish momentum may confirm the price of Dogecoin.
Traders see the main support and resistance levels. The support level is about $ 0.23, while the resistance is located at $ 0.26 and $ 0.30. Step over these levels can indicate more gains for a Dogoin price.
Analysts expect that the price of Dog will reach $ 3 to $ 5
Many analysts like Javon Marks Prediction Ingecoin’s main price increase in the current market cycle. At the same time, basic trading set $ 0.2, $ 0.5, and $ 5 as major price levels, noting that the price of Dogecoin is in an upward direction despite the recent corrections. The analyst pointed out that Dog followed a historical style of the large percentage of the previous bulls.
The encryption analyst Ali Martinez also expected a bullish scenario for the price of Dukwin. He highlighted that if the support range ranges between $ 0.16 and $ 0.19, Dogs can gather to $ 3. Likewise, Tardigrade Trader Trader stated that the Macro Dogecoin chart displays a style similar to the 2017 cycle, which may lead to an increase in $ 1.7.
Other analysts have set the highest price goals. Dima Potts suggested that the price of Dogecoin can reach $ 10 if it reflects the bull market trends. Some traders believe that the historical price movements of Wug indicate a strong possibility to overcome the previous levels at all.
Kelvin Monin Murithi
Kelvin is a distinguished writer who has experience in encryption and financing, holding a Bachelor’s degree in Actura Sciences. It is famous for its careful analysis and insightful content.
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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