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Analyst Predicts $DOGE Might Reach $30 With Pattern Repeat

Analyst predicts Dogecoin could hit $30 as large transactions rise, signaling a potential breakout

3 minOctober 6, 2024

Highlights:

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Dogecoin shows signs of a potential price surge with rising large transactions.

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Analyst predicts Dogecoin could reach $30, mirroring past growth patterns.

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Institutional investors may drive Dogecoin's next rally, increasing market momentum.

Analyst Predicts $DOGE Might Reach $30 With Pattern Repeat

Dogecoin (DOGE) has drawn fresh attention from crypto investors after showing signs of a possible price surge. Recent data from Coinglass reveals a rise in large transactions, signaling a potential breakout. 

 

With similar patterns in the past, Dogecoin could mirror previous explosive growth. Could this meme coin now be on the path to $30?

 

Large Transactions Could Spark a Price Surge

 

As the below post highlights, there's been a jump in large transactions within the Dogecoin network. This increase suggests institutional investors and major holders are positioning themselves strategically. 

 

 

Large transactions typically hint at future price movements, and this time is no different. As bigger players enter the market, the stage may be set for another strong rally.

 

Trader Tardigrade, another popular crypto analyst, noted that Dogecoin is trading above the 200-day simple moving average. Je suggests that the current cycle mirrors past phases that led to major price jumps.

 

Could Dogecoin Be on the Verge of a Breakout?

 

Dogecoin tends to rally after periods of consolidation. Historical data shows that once momentum builds, price surges often follow. 

 

Trader Tardigrade pointed out the coin has just completed the “Pre-Rally” phase, indicating a bigger move may be on the horizon. As of writing, DOGE is trading around $0.11 and showing modest growth. 

 

Should momentum increase, the price could rise to $0.15 and beyond. Institutional investors and large-scale holders could push the price much higher.

 

For now, traders and investors are watching closely. If patterns repeat, Dogecoin could surprise the market with a sharp rise to $30, marking another chapter in the story of meme coins.

 

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