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DOGE's Potential Next Move: Analyst Projects $4 Price Target
Analyst KrissPax has forecasted that Dogecoin's recent PMO (Price Momentum Oscillator) crossover could trigger another major breakout, drawing from past trends. Although the recent PMO crossover briefly lifted Dogecoin to multi-year highs, the bullish momentum has recently slowed due to corrections.
However, many crypto experts believe Dogecoin's rally is poised to resume soon. KrissPax emphasized that the four-year cycle of bullish PMO crossovers is still intact, which could lead to a significant price surge for DOGE. The analyst has set a price target of $4, which would represent a staggering 4,110% increase from its 2024 low, just before the current market cycle began.
Currently, Dogecoin is trading at $0.2619, showing a slight 0.18% increase in the last 24 hours. Reaching the $4 target would require a 1,427% rise from its present price. The first major hurdle for DOGE to reach this price target is breaking and holding above the $0.30 mark. After that, the next resistance levels to watch will be $0.40 and eventually $0.50.