Dogecoin (DOGE) Merchants Speculate About How Rapidly the Meme Coin King Might Reach Previous Highs

Dogecoin (DOGE) is up 4.1% during the past 24 hours, bringing its seven-day gains to 13.8%.

Crypto merchants are buzzing concerning the potential for meme coin king Dogecoin (CRYPTO: DOGE) to quickly attain new all-time highs because the coin continues its bullish rally.

Right here’s a take a look at what merchants are saying and the way Dogecoin’s chart is trying.

Dogecoin’s Journey To All-Time Highs: Crypto dealer Kevin beforehand famous that when Dogecoin has hit all-time highs, it has taken a median of 1,200 days for the following one. “If we have been to comply with that cycle for the third time coinciding with BTC worth discovery then we must always see DOGE attain a brand new ATH by the top of August this yr,” the dealer stated.

This sample may be seen on the Dogecoin chart beneath.

One other crypto dealer analyzed Dogecoin’s chart and is anticipating a rally within the subsequent 90 days.

DOGE Worth Motion: Over the past 24 hours, DOGE is up 4.1% and seven days up 13.8%.

Learn Extra: Dogecoin, Shiba Inu, Pepe Will Still Have Supercycle But ‘2021 May Never Happen Again,’ Muses Trader

Why It Issues: Crypto dealer Kaleo beforehand mused on whether or not there can be a Dogecoin ETF. The dealer stated he wouldn’t be stunned if somebody tried to push for a DOGE ETF within the subsequent yr, which might carry related consideration to the Bitcoin ETFs.

IntoTheBlock knowledge reveals massive transaction quantity rising by 21.2% and transactions better than $100,000 rising from 143 on July 13 to 225 on July 14. Trade internet flows spiked 799.2%.

75% of Dogecoin holders are at the moment in revenue. 67% of Dogecoin holders have amassed the coin for greater than a yr, whereas 32% of holders are holding the coin for a one to twelve-month interval.

What’s Subsequent: The affect of meme cash can be totally explored at Benzinga’s upcoming Future of Digital Assets occasion on Nov. 19.

Photograph through Shutterstock

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