{"id":650850,"date":"2024-10-31T16:30:13","date_gmt":"2024-10-31T16:30:13","guid":{"rendered":"https:\/\/uniquehot.com\/?p=650850"},"modified":"2024-10-31T09:24:36","modified_gmt":"2024-10-31T09:24:36","slug":"dogecoin-price-as-high-as-2","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-price-as-high-as-2\/","title":{"rendered":"Crypto Analyst Puts Dogecoin Price As High As $2.4, What Does Elon Musk Have To Do With It?"},"content":{"rendered":"

The Dogecoin price now looks like it has <\/span>established support<\/span><\/a> of around $0.17, having rebounded just below it in the past 24 hours. With the $0.17 price level cleared, the next step is a convincing break above $0.18. Interestingly, technical analysis of the Dogecoin price suggests a strong multi-year resistance level between $0.18 and $0.20.<\/span><\/p>\n

Technical analysis using Elliot waves suggests a break above the resistance levels could open up the path to a peak of $2.4. While this target may seem ambitious, Dogecoin has attracted renewed <\/span>popularity and recent price gains<\/span><\/a>, which reflect its ability to capture investor interest. This is particularly evident in recent actions by billionaire Elon Musk, who brought Dogecoin into the mainstream conversation.\u00a0<\/span><\/p>\n

Crypto Analyst Says Dogecoin To $2.4, Elon Musk A Huge Factor<\/h2>\n

Aside from the recent wider increase in crypto prices spearheaded by Bitcoin, it is evident that the current Dogecoin performance has also been bolstered by Elon Musk and his “Department Of Government Efficiency.”\u00a0<\/span><\/p>\n

Related Reading: End Of The Road For Solana? Analyst Predicts 77% Price Crash To $40<\/a><\/div>\n

According to <\/span>an analysis<\/span><\/a> by an analyst that goes by @HovWaves on social media platform X, Dogecoin is prime for a surge to $2.4. As you can imagine, reaching this level would require Dogecoin to attract investment inflows from every corner of investor cohorts. Fortunately, recent events have been <\/span>drawing increased attention to Dogecoin,<\/span><\/a> one of which is the <\/span>presidential election campaigns<\/span><\/a> in the United States.<\/span><\/p>\n

Campaigns have seen <\/span>the introduction of <\/span><\/a>the Department of Government Efficiency by Elon Musk, which is a campaign tactic by Republican candidate Donald Trump to cut $2 trillion in federal spending. Although seemingly unrelated to cryptocurrencies, the term has caught waves among Dogecoin investors, especially as it abbreviates as DOGE, the Dogecoin ticker. Interestingly, Elon Musk has fueled this narrative among Dogecoin investors by <\/span>recently posting<\/span><\/a> a picture of him alongside the Dogecoin avatar.<\/span><\/p>\n

As HovWaves noted, all the talk surrounding the Department Of Government Efficiency has made DOGE a household name in recent weeks. This surge in interest is reflected in the Dogecoin price, which has increased by 60% since October 1.<\/span><\/p>\n

Dogecoin\u2019s Timeline To Reaching $2.4<\/h2>\n

According to technical analysis using the Elliot Wave theory, Dogecoin is currently on the third impulse wave, a phase known to be massively bullish. This bullish trend has seen Dogecoin on its way to breaking above <\/span>a major resistance level,<\/span><\/a> which HovWaves highlighted to be just below $0.18.<\/span><\/p>\n

Related Reading: XRP Price Explosion Above $3 Is A Matter Of When, Not If: Analyst Reveals Timeline<\/a><\/div>\n

A successful breakout of the resistance level would open up the stage for Dogecoin to retest its 2024 high of $0.22. A subsequent break above this high would send it towards its all-time high of $0.73 in May 2021. With enough momentum, HovWaves predicted Dogecoin would eventually settle at a price target in the $1.9 to $2.9 confluence area by July 2025.<\/span><\/p>\n

\"Dogecoin
Source: X<\/figcaption><\/figure>\n

At the time of writing, Dogecoin is trading at $0.1725. A break towards $1.9 and $2.9 would reflect 1,000% and 1,585% gains, respectively.<\/span><\/p>\n

\"Dogecoin
DOGE price begins another recovery | Source: DOGEUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The Dogecoin price now looks like it has established support of around $0.17, having rebounded just below it in the past 24 hours. With the $0.17 price level cleared, the next step is a convincing break above $0.18. Interestingly, technical analysis of the Dogecoin price suggests a strong multi-year resistance level between $0.18 and $0.20. Technical analysis using Elliot waves suggests a break above the resistance levels could open up the path to a peak of $2.4. While this target may seem ambitious, Dogecoin has attracted renewed popularity and recent price gains, which reflect its ability to capture investor interest. This is particularly evident in recent actions by billionaire Elon Musk, who brought Dogecoin into the mainstream conversation.\u00a0 Crypto Analyst Says Dogecoin To $2.4, Elon Musk A Huge Factor Aside from the recent wider increase in crypto prices spearheaded by Bitcoin, it is evident that the current Dogecoin performance has also been bolstered by Elon Musk and his “Department Of Government Efficiency.”\u00a0 Related Reading: End Of The Road For Solana? Analyst Predicts 77% Price Crash To $40 According to an analysis by an analyst that goes by @HovWaves on social media platform X, Dogecoin is prime for a surge to $2.4. As you can imagine, reaching this level would require Dogecoin to attract investment inflows from every corner of investor cohorts. Fortunately, recent events have been drawing increased attention to Dogecoin, one of which is the presidential election campaigns in the United States. Campaigns have seen the introduction of the Department of Government Efficiency by Elon Musk, which is a campaign tactic by Republican candidate Donald Trump to cut $2 trillion in federal spending. Although seemingly unrelated to cryptocurrencies, the term has caught waves among Dogecoin investors, especially as it abbreviates as DOGE, the Dogecoin ticker. Interestingly, Elon Musk has fueled this narrative among Dogecoin investors by recently posting a picture of him alongside the Dogecoin avatar. As HovWaves noted, all the talk surrounding the Department Of Government Efficiency has made DOGE a household name in recent weeks. This surge in interest is reflected in the Dogecoin price, which has increased by 60% since October 1. Dogecoin\u2019s Timeline To Reaching $2.4 According to technical analysis using the Elliot Wave theory, Dogecoin is currently on the third impulse wave, a phase known to be massively bullish. This bullish trend has seen Dogecoin on its way to breaking above a major resistance level, which HovWaves highlighted to be just below $0.18. Related Reading: XRP Price Explosion Above $3 Is A Matter Of When, Not If: Analyst Reveals Timeline A successful breakout of the resistance level would open up the stage for Dogecoin to retest its 2024 high of $0.22. A subsequent break above this high would send it towards its all-time high of $0.73 in May 2021. With enough momentum, HovWaves predicted Dogecoin would eventually settle at a price target in the $1.9 to $2.9 confluence area by July 2025. At the time of writing, Dogecoin is trading at $0.1725. A break towards $1.9 and $2.9 would reflect 1,000% and 1,585% gains, respectively. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":624737,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[167,6664,26263,14690,1785,89174,85675,7,1803,1804,79599,79600],"class_list":["post-650850","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-doge","tag-doge-news","tag-doge-price","tag-dogecoin","tag-dogecoin-news","tag-dogecoin-price","tag-dogeusd","tag-dogeusdt"],"acf":[],"yoast_head":"\nCrypto Analyst Puts Dogecoin Price As High As $2.4, What Does Elon Musk Have To Do With It?<\/title>\n<meta name=\"description\" content=\"The Dogecoin price now looks like it has established support of around $0.17, having rebounded 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Matherson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","caption":"Scott Matherson"},"description":"Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Analyst Puts Dogecoin Price As High As $2.4, What Does Elon Musk Have To Do With It?","url":"http:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-price-as-high-as-2\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-price-as-high-as-2\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Dogecoin_2a07bb.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Dogecoin_2a07bb.jpeg?fit=1792%2C1024"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","crypto","crypto analyst","crypto news","doge","doge news","doge price","dogecoin","dogecoin news","dogecoin price","dogeusd","dogeusdt"],"dateCreated":"2024-10-31T16:30:13Z","datePublished":"2024-10-31T16:30:13Z","dateModified":"2024-10-31T16:30:13Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Analyst Puts Dogecoin Price As High As $2.4, What Does Elon Musk Have To Do With It?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/dogecoin\\\/dogecoin-price-as-high-as-2\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/dogecoin\\\/dogecoin-price-as-high-as-2\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Dogecoin_2a07bb.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Dogecoin_2a07bb.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"crypto\",\"crypto analyst\",\"crypto news\",\"doge\",\"doge news\",\"doge price\",\"dogecoin\",\"dogecoin news\",\"dogecoin price\",\"dogeusd\",\"dogeusdt\"],\"dateCreated\":\"2024-10-31T16:30:13Z\",\"datePublished\":\"2024-10-31T16:30:13Z\",\"dateModified\":\"2024-10-31T16:30:13Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Dogecoin_2a07bb.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/650850","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=650850"}],"version-history":[{"count":1,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/650850\/revisions"}],"predecessor-version":[{"id":650864,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/650850\/revisions\/650864"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/624737"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=650850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=650850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=650850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}