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Home»ALTCOIN NEWS»Dogecoin (DOGE) leads cryptocurrency market resurgence with explosive move as traders eye $1 price target
ALTCOIN NEWS

Dogecoin (DOGE) leads cryptocurrency market resurgence with explosive move as traders eye $1 price target

By Crypto FlexsNovember 13, 20242 Mins Read
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Dogecoin (DOGE) leads cryptocurrency market resurgence with explosive move as traders eye  price target
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Dogecoin (DOGE) has been one of the main beneficiaries of the cryptocurrency market rebound, showing explosive moves, rising more than 160% in less than a week.

DOGE is up 107% in the past week after adding $30 billion to its market capitalization in one day.

As DOGE gains momentum, traders and analysts in the space are keeping an eye on the top memecoin’s next move, focusing on the psychological $1 level.

Kaleo, a pseudonymous cryptocurrency trader, told his 656,000 followers on social media platform

“The general PA (price action) here makes sense to me.

It cuts through meme resistance (0.42069) for a while, then moves down into the 20s/low 30s, chasing off late buyers and fomo (fear of missing out) top buyers, and then continues to rip.”

Source: Kaleo/X

Ultimately, Kaleo sees DOGE reaching $1, a current rally of around 170%.

“The $1.00 Roadmap.”

video
Source: Kaleo/X

Legendary commodities trader Peter Brandt accurately called DOGE’s breakout from an inverse head and shoulders (H&S) following its recent break out of the channel. Brandt said a breakout of the all-time high (above $0.73) is imminent.

“We trust Musk

DOGE confirms channel breakout with large base price accumulation and new ATH.”

video
Source: Peter Brandt/X

Other veteran traders, such as the widely followed Bluntz, also called for $1 DOGE, saying the critical dollar level “is not the meme you think it is.”

Some analysts are unconvinced about DOGE. Pseudonym trader Donalt recently warned his 595,000 followers on X that Dogecoin was an “old coin” unlikely to attract the attention of new retail market participants.

As of this writing, DOGE is trading at $0.37.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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