Jacob Canfield of Crypto Analyst Network recently discussed the possibility that Dogecoin might experience a surge similar to that seen with XRP, drawing parallels between their trading patterns. Canfield noted that Dogecoin’s price action on shorter time frames resembles that of XRP’s with previous resistance levels acting as support and moving along in an orderly path, described by Canfield as “pretty straightforward.”
Could Dogecoin Follow In XRP’s Footsteps?
Canfield suggests there is a strong chance for Dogecoin to take part in a similar rally as seen with XRP, with potential gains exceeding 161% recorded last month. While currently it appears stable around $0.4, its price could experience another surge beyond this threshold of $0.48 towards key levels such as $0.55 and $0.66 that coincide with specific Fibonacci retracement levels.
Imminent Major Moves For DOGE?
Master Kenobi of crypto analyst is confident that Dogecoin is on the verge of experiencing a dramatic surge. Drawing parallels between an earlier cycle and Dogecoin’s current one, Kenobi noted a period of consolidation before an eventual breakout; given this has occurred since early November’s rally, Kenobi predicted an upward move may happen within days; predictions include reaching $1 and possibly reaching as high as $2.9 for this market cycle.
Master Kenobi recently moderated expectations by noting that any projections for Dogecoin exceeding $5 are overly ambitious in the current market cycle. At present, its trading price stands at $0.42 with a positive trend over the last day.
