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Analyst Reveals Why Dogecoin Price Could Reach $10 As Infamous Inverse Head And Shoulders Pattern Returns
A crypto analyst has identified a new technical indicator in the Dogecoin price chart called the Inverse Head and Shoulders pattern,” believing it could be a strong signal for a bullish surge. Based on this technical pattern and Dogecoin’s recent market momentum, the analyst has set a new bullish target of $10 for the number one meme coin.
Dogecoin Price Rally To $10 Incoming
In an X (formerly Twitter) post on November 10, a crypto analyst, Dima James Potts, discussed the emergence of the Inverse Head and Shoulders pattern on the Dogecoin price chart, highlighting a potential for a significant rally to $10. The analyst shares that he is partial to this unique chart pattern, as it often precedes or signals the onset of a major bull run.
The Inverse Head and Shoulders pattern is a standard chart formation that typically highlights a potential trend reversal. This technical chart can indicate a shift from a bearish to a bullish trend, suggesting the end of a significant downward trend.
According to Potts, in every cycle that the Dogecoin price chart has formed an Inverse Head and Shoulders pattern, it has experienced a massive rally. He supported his statement by highlighting Dogecoin’s historical price movements, where the cryptocurrency went up by over 3,364% in the first cycle after closing the week above “the yellow line.”
The analyst also disclosed that the Dogecoin price surged by more than 12,189% in the second cycle after it broke out above a similar neckline. These notable price increases indicate that the Inverse Head and Shoulders have historically led to parabolic rallies, suggesting that the Dogecoin price could rise dramatically once it breaks through the Yellow Line.
Based on this pattern formation and recurring bullish reaction, Potts has suggested that Dogecoin is on the verge of closing the week above the Yellow Line, a key resistance level. He denotes that if Dogecoin can succeed in closing above this line, it could trigger significant upward swings followed by bearish pullbacks.
This prediction also extends into 2025, with Potts’ chart highlighting that the Dogecoin price could surge to the $10 target and continue its bullish trend, potentially reaching as high as $36. The analyst also mentioned an increased trading volume for Dogecoin, emphasizing that this could also drive the price of the meme coin higher.
Update On Dogecoin Price Dynamics
While bullish predictions continue to spread about the Dogecoin price, recent data shows that the meme coin has been on a significant upward momentum, highlighting strong price dynamics amidst present market conditions. According to CoinMarketCap, the Dogecoin price is trading at $0.28 after increasing by over 84.66% in the past week.
The cryptocurrency previously saw a 25% spike in a single day after the United States Presidential election results showed a victory for Donald Trump. Now, the Dogecoin price is up by 22.5%, while its daily trading volume has surged by 199.49%.
Featured image created with Dall.E, chart from Tradingview.com
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Dogecoin Price Chart Patterns Shows Similarities To Bitcoin In 2016, Why This Is Good
Veteran trader Peter Brandt has brought fresh attention to DOGE by identifying striking similarities between the current Dogecoin price action and the Bitcoin price movements from 2015-2016. Brandt highlighted these patterns in a recent post on social media platform X, suggesting that Dogecoin could be following in Bitcoin’s early footsteps.
Peter Brandt’s Observations On Dogecoin Price Chart Patterns
Recent interest in Dogecoin in the past 30 days has brought its price action to the forefront of the trading analysts. The majority of these analysts have highlighted many technical indicators and trading patterns that point to a continued Dogecoin price surge in the coming months. However, veteran trader Peter Brandt has offered a unique perspective that sets his analysis apart. Rather than focusing solely on indicators, Brandt compares Dogecoin’s price action to the early days of Bitcoin, particularly to Bitcoin’s cycle from 2015 to 2016, when the leading cryptocurrency was still priced below $1,000.
In his post, Brandt pointed to specific price behaviors on Dogecoin’s chart that echo Bitcoin’s structure from several years ago. According to Brandt, Dogecoin’s price has undergone phases of price bottoms and corrections that resemble Bitcoin’s patterns before its first major rally in 2017. “Does anybody see the similarities of $DOGE to the $BTC chart in 2015-2016?” Brandt said.
According to him, the Dogecoin price action in the past year has been characterized by a blow off top, a correction via a falling wedge, a double bottom, and a complex correction following completion of the double bottom, all of which were present on the Bitcoin price chart in 2016. Notably, Brandt highlighted that Dogecoin is currently in the same position as Bitcoin was in May 2016.
Why Is This Good For Bitcoin?
If anything, the way Bitcoin turned out is a good indicator of what’s in play for Dogecoin’s future. Each of the patterns highlighted by Peter Brandt was instrumental in marking Bitcoin’s bottom and its subsequent climb toward new heights in 2017. If the Dogecoin price continues to mirror Bitcoin, we could see the meme coin going on a strong surge in 2025, much like the Bitcoin price rally in 2017.
At the time of writing, Dogecoin is trading at $0.38, and its value has essentially doubled in the past seven days. According to the on-chain analytics platform Santiment, this Dogecoin price rally has been largely driven by retail traders. Notably, addresses holding less than 100,000 DOGE tokens have increased by 74,885 in the past four weeks, while sharks and whale addresses have reduced by 350 addresses in the same timeframe.
Although Dogecoin has corrected since it reached $0.4346 in the past 24 hours, the meme coin is starting to trend on social media again. This is due to the US president-elect Donald Trump appointing Dogefather Elon Musk and billionaire Vivek Ramaswamy to lead the newly created Department of Government Efficiency (DOGE).
Featured image created with Dall.E, chart from Tradingview.com
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Expert Says Dogecoin Price Is Long Overdue For Rally To $1.5, ETFS To Reach $5, And XRP To Touch $10
A top market expert believes the Dogecoin price is long overdue for a rally to $1.5. Amid the brewing bullish momentum in the crypto market, investors also target XRP price for a run towards $10 and the new presale token ETFSwap (ETFS) to reach $5. The bullish expert predictions for these cryptocurrencies present an opportunity for profit, but investors are focusing on ETFSwap (ETFS) for its higher profit margin and low-risk presale entry.
ETFSwap (ETFS) Could Rise To $5 To Lead Other Market Prospects
The $5 projection for ETFSwap (ETFS) beat the Dogecoin and XRP price predictions, and investors are looking to capitalize on its prospect for the best market gains in the coming bull run. ETFSwap (ETFS) is a new Ethereum-based project that aims to provide a decentralized platform for trading and investing in tokenized ETFs.
The tokenized ETFs on the emerging DeFi platform will be backed by actual ETF securities bought from traditional markets. This enables the tokenized ETFs to maintain their real-world value while offering broader on-chain use cases. The new platform also aims to list ETF assets from various industries, including energy, engineering, healthcare, and more.
These diverse options allow for smoother portfolio diversification and asset conversion compared to centralized platforms. Users will be able to swap tokenized ETFs and cryptocurrencies, crossing between both markets with ease to take advantage of opportunities as they come. Also, the new ETF platform will allow users to collateralize their ETFs for liquidity, which can be used for other market opportunities.
Additionally, ETFSwap (ETFS) will offer impressive features, including faster ETF settlements, passive income from staking, 24/7 market coverage, zero-KYC trading, lower transaction costs, and more. ETFSwap (ETFS) eliminates the limitations around trading hours, conversions, KYC requirements, and many more that exist on centralized platforms.
ETFSwap (ETFS) is set for a beta launch following its launch on Testnet, and early investors are excited to try out its amazing features. Also, the ETFSwap (ETFS) has passed the KYC audit by SolidProof, verifying the legitimacy of the project. With these crucial processes done, investors look for the best market gains possible.
Dogecoin Price Predicted To Reach $1.5 Amid Broader Bullish Market
The Dogecoin price has seen positive movement over the past month as the meme coin now attempts to break resistance above $0.2. Expert predictions target a Dogecoin price surge to $1.5, which presents about an 8x opportunity from its current price. The Dogecoin price is attempting to surpass its $0.2288 yearly high following a Donald Trump victory in the US election.
Expert insights suggest that a Trump win is viewed positively by the crypto landscape, and investors are particularly hyped for a Dogecoin price run after Elon Musk’s proposal of a Department of Government Efficiency (DOGE).
The Dogecoin price as of this writing is $0.1941, gaining over 80% in the past month. Expert analysis suggests that the Dogecoin price could be set for a $1.5 all-time high ahead amid bullish market conditions.
XRP Price Predicted To Rise To $10 Following Trump Victory
Crypto enthusiasts express excitement over a possible XRP price rally following a Trump win. Donald Trump had previously stated during his campaign that he would fire SEC chair Gary Gensler on his first day in office. While this may not mean the end of the Ripple case, expert insights suggest that the XRP price may react positively to this news.
XRP price as of this writing is $0.5504, already teasing a bullish breakout as Trump took the early lead in the US elections. The XRP price has broken out of a month-long consolidation since the SEC filed appeal documents against the final court ruling in the Ripple – SEC case. Expert analysis suggests XRP could launch a rally towards $10 in the long run amid positive expectations from the new US administration.
Conclusion
A potential rally to $5 for ETFSwap (ETFS) presents an opportunity for about 100x profits from its current presale price of $0.05769. The new presale coin is set to outperform the expert Dogecoin or XRP price predictions, especially amid the brewing narratives around ETFs and real-world assets.
Having concluded its presale rounds, ETFSwap (ETFS) opened a bonus presale round at $0.05769 per token, offering a final opportunity to investors who missed their chance. Don’t miss out on this cheap opportunity for life-changing profits.
For more information about the ETFS Presale:
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HIPPO Price Rockets 65% As Binance Lists Sudeng, Rally To Sustain?
Sudeng (HIPPO) and X Empire prices witnessed phenomenal gains on Wednesday, nabbing the attention of crypto market enthusiasts globally. As the crypto exchange giant Binance unveiled futures listing for the mentioned cryptos, a bullish market bubble appears to have swallowed the tokens. Meanwhile, traders also appear to have reacted positively to the listing announcement, given the one of the coin’s intraday trading volume soared 102% at the time of reporting.
Binance Unveils HIPPO & X Perpetual Contract Sparking Optimism
According to an official Binance announcement dated November 13, the crypto exchange is listing HIPPO USD-Margined perpetual contract today at 12:30 UTC. Per the listing announcement, users on the platform can enjoy up to 75x leverage trading the asset. Meanwhile, the exchange also revealed that it will support Multi-Assets mode for the asset.
Further, the announcement also revealed that the exchange is adding X Empire (X) futures contract (1000XUSDT) in an effort to enhance trade offerings for users. The platform’s colossal user base remains poised to enjoy 75x leverage trading the asset, starting on the same date and time. Overall, the listings by one of the top crypto exchanges has sparked significant investor intrigue amid a bullish crypto market as it paves the way for further trader interaction with the assets. In turn, market watchers are eyeing a bullish impact on prices as more money flows into the tokens’ ecosystem.
How Are The Listed Coins Performing?
At press time, HIPPO price witnessed a 66% uptick in value and is now trading at $0.02119. The coin’s intraday low and high were $0.01075 and $0.02453, respectively. Notably, the token’s intraday trading volume also witnessed a 102% surge to $106.68 million at the time of reporting.
Simultaneously, X price gained 1% in light of the futures listing to trade at $0.0003148. The coin’s 24-hour low and high were $0.000211 and $0.0003618, respectively. Intriguingly, the listed tokens’ rising actions have sparked market intrigue over future performances, as Binance’s previous listings had a bullish impact.
Notably, PNUT and ACT prices witnessed phenomenal gains as the same exchange unveiled spot listings for the tokens. The exchange listed the token in ACT/USDT and PNUT/USDT trading pairs. Overall, this past chronicle brings significant attention to the aforementioned listings. Crypto market participants continue to monitor the tokens for further price action shifts.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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