Pundit Reveals Catalysts That Will Drive Dogecoin Price 150% To $0.55

After the market crash, the Dogecoin price suffered a decline to $0.2, which presented as a perfect opportunity for whales to get back in ￰0￱ the momentum rising for the meme coin, there are a number of factors that have been presented that suggest the price could more than double ￰1￱ crypto analyst ProjectSyndicate highlights these catalysts in an analysis, showing what will drive the Dogecoin price to new yearly ￰2￱ First, A Retest Of The Reload Zone? Just like other digital assets in the space, Dogecoin features a low reload zone with lots of support that the price could retest before moving ￰3￱ this case, the reload zone lies as low as $0.15, meaning that a failure to continue the uptrend could lead to a retest of this ￰4￱ Reading: XRP Price Holds Macro Consolidation Zone, Wave 3 Surge Could Send Price To $5 So far, the Dogecoin price has managed to escape testing this zone as the bulls continue to hold ￰5￱ support featured heavily above the $0.22 level.

However, as bears have put pressure on this level with notable sell-offs, support above $0.2 remains the major ￰6￱ the crypto analyst explains, the $0.15-$016 zone is the bottom of the Dogecoin accumulation ￰7￱ means that a breakdown from here would likely touch this level, making it the ideal spot to start getting into position before the Dogecoin price takes off ￰8￱ To Drive Dogecoin Price To New Peaks Outside of the reload zone, there are a number of factors that have positioned Dogecoin for a possible strong bullish ￰9￱ first here is the accumulation that has followed the price ￰10￱ far, whales have been buying DOGE, marked by major withdrawals from ￰11￱ catalyst is the expectation of a Dogecoin ￰12￱ far, multiple firms have filed for a Dogecoin ETF, but none have been approved as the SEC continues to postpone its ￰13￱ if an approval does come through, then the significant institutional inflow could drive the price ￰14￱ Reading: XRP Holds Golden Retrace At $2.90: Wave 3 Breakout To $5.4 In Sight The analyst also points to the DogeOS launch that allows Dogecoin users to take advantage of decentralized finance on the Ethereum ￰15￱ is another utility that has boosted Dogecoin’s popularity among investors and could help to prop up its ￰16￱ the technical side, the Dogecoin price is also throwing out bullish prospects, with a Golden Cross forming after the 50-Day Moving Average crossed the 200-Day Moving ￰17￱ Crosses have often preceded strong bullish moves, and this time is expected to be no ￰18￱ here, the Dogecoin price simply has to hold above $0.15-$0.16, even in the case of a ￰19￱ bulls can maintain this level, then the analyst expects price to reclaim $0.25, with the possibility of further upside to $0.34-$0.40, before expanding toward $0.55.

Featured image from Dall. E, chart from ￰20￱