Crypto Trader’s $3.80 Dogecoin Target Will Shock You After $0.3 Prediction Came True

Crypto traders Melika correctly called Dogecoin’s jump to $0.3 back in October, but that was only beginning. Melika has shared even higher targets for Dogecoin, suggesting that the popular hype coin could  reach new heights, both in the short and long term.

Long-Term Price Target of $3.80

In a TradingView post, Melika predicted Dogecoin could reach $3.80 in the long run. This forecast was based on a classic rounded-bottom formation forming on Dogecoin’s chart—a positive indicator where prices tend to climb following a period of steadying. If this pattern completes, Melika projected near-term targets of $0.38 and $0.52, with a longer-term target reaching up to $3.80. The pattern’s breakout point and key levels on the chart give these estimates more weight.

📈 The latest trend in dogecoin! Current price: $0.326 🚀

What do you think of the current market?👀 $DOGE pic.twitter.com/h6oc91wc6M

— Agnes (@Agnes_525) November 11, 2024

 

Crypto analyst Dima James also pointed out a similar pattern, stating Dogecoin’s price could climb as high as $10 over time. Historically, Dogecoin has followed this pattern in every cycle, with gains over 3,300% in 2016 and 12,000% in 2021 after the pattern formed.

Dogecoin’s Golden Cross: A Positive Sign

Adding to the optimism, self-proclaimed DOGE analyst Kevin Capital noted that Dogecoin recently completed its first weekly Golden Cross in four years, where the 50-day moving average crosses above the 200-day. Historically, this has signaled potential price increases. Kevin, however, advised caution in the short term, as price dips often follow Golden Crosses before any upward movement resumes.

In his latest post, Kevin suggested that while a $3.90 jump may be ambitious, reaching $1.80 is within reason, especially if Bitcoin maintains its current upward trend. Currently, Dogecoin is trading around $0.28, up over 25% in the past day, showing that the excitement is real.