CandleFocus How high can Dogecoin price rise if Bitcoin hits $122k?
2024-11-28
Author: Content Editor
This news article discusses the recent performance of Dogecoin (DOGE). The price of DOGE has reached its highest level since May 2021, reaching $0.4795. This increase is part of the broader crypto rally that has been gaining momentum. The price of DOGE has mirrored that of Bitcoin, with a correlation coefficient of 0.98 between the two, indicating similar price movements. With Bitcoin expected to reach $100,000 and potentially even $122,000, there is a likelihood that DOGE will continue its strong bull run. Technical analysis suggests that DOGE has formed a bullish flag or pennant pattern, which often precedes a strong breakout. If this occurs, the next target for DOGE could be $0.7400, its all-time high. However, if DOGE drops below $0.2278, this bullish outlook would be invalidated.
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