NewsBTC

9 January 2025

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Analyst Predicts $1 Target for Dogecoin After Multi-Year Trend Break

Dogecoin experienced a 14% decline to $0.34, raising concerns among investors. However, it remains at a critical demand level that could support future bullish movements.

• Top analyst CROW noted Dogecoin's potential to break its multi-year trendline, which could lead to significant upward momentum.
• CROW targets $1 as an initial milestone, signaling a possible shift from a long-term downtrend.
• Strong accumulation signals on Dogecoin’s chart suggest readiness for a potential rally.
• If DOGE reclaims the $1 mark, increased buying pressure may drive prices higher.
• The current crucial level to monitor is $0.43; maintaining this could indicate a major breakout.
• Failure to hold above $0.33 may result in intensified selling pressure and deeper corrections.

Overall, Dogecoin's ability to sustain its demand zone presents opportunities for recovery and gains as market conditions evolve.