Dogecoin (CRYPTO: DOGE) is headed for much higher highs, according to cryptocurrency market analyst Gianni Di Poce.
What happened: Speaking at the Benzinga Crypto Trading FestivalDi Poce – financial analyst and president at market research firm The Mercator – said he “wouldn’t be surprised to see DOGE for more than a dollar a coin.”
The market analyst explained that the coin is now forming something that resembles a bull flag or a bull pennant and that we should expect new highs if it breaks the upper trendline.
He also explained that Dogecoin recently broke a three-year mostly horizontal drift, broke the resistance and then saw new all-time highs.
He said the idea that the longer a tradable commodity lateralizes, the more intense the trend will be is widely believed among traders, suggesting Dogecoin fans are in for a big ride.
The report follows a recent market analysis suggest that there is hope for Dogecoin to rekindle its bullish trend after forming a bull pennant that could propel its price past $0.30.
Price promotion: According to CoinMarketCap dataDogecoin was trading at $0.2778 at the time of writing, losing 0.7% in the last 24 hours.
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