DOGE Skyrockets 30%, But Will it Reach $0.177 or $10?
Dogecoin (DOGE) has experienced a significant surge in recent days, rising by nearly 30% over the past week. This price increase brings DOGE to its highest level in almost three months.
The market capitalization of DOGE is now over $14 billion, making it one of the largest meme coins. Some analysts believe that DOGE will continue to rise, with Ali Martinez predicting a target price of around $0.177 if the token can sustainably close above the key resistance level of $0.0813.
However, not all predictions are as optimistic. MikybullCrypto has forecast an 'explosive move' that could push DOGE to $3, while Vuori Trading believes it will reach $10. These targets would require significant price increases, potentially exceeding $1.5 trillion in market capitalization.
On the other hand, there are signs of a potential correction. Dogecoin inflows into exchanges have surpassed outflows over the past few days, indicating that some investors may be abandoning self-custody and heading to centralized platforms. This increase in selling pressure could negatively impact DOGE's price in the short term.