Dogecoin Price Prediction – Can DOGE Hit $3 By 2023?
The Dogecoin bulls regained control on Tuesday, sending DOGE/USD back above the cents level. The world’s most popular meme-inspired cryptocurrency was last trading higher by a little over 5.5% on the day, according to TradingView, unwinding all of Monday’s 3.5% loss.
Tuesday’s turnaround comes as Dogecoin is lifted by broad cryptocurrency market upside, which comes despite further losses in stock markets on the day. Dogecoin is now trading more than 35% higher versus its levels one week ahead not far above $0.07.
Indeed, Dogecoin price predictions have become more bullish in light of the cryptocurrency finding support at its 100- and 200-Day Moving Averages (currently both around $0.073) for a second time in November. A surge in Dogecoin in early November amid hype that Elon Musk might integrate the cryptocurrency into a future Twitter payments system has seen DOGE/USD break decisively and lastingly above its 200DMA for the first time since September 2021.
https://twitter.com/elonmusk/status/1512954808394731521
Elon Musk, who is the CEO of Tesla, SpaceX and Twitter, is a supporter and advocate of Dogecoin.
Dogecoin is looking bullish on the four-hour candlesticks. It appears to be in a short-term uptrend that remains very much intact, and also appears to be forming a pennant structure. An upside break of this pattern could see DOGE/USD quickly rally to test resistance in the $0.1080 area. A break above here could open the door to a swift surge back to earlier monthly highs near $0.16.
Dogecoin has a history of exponential price increases that occur once every three to four years. For example, after years of languishing at near-worthless levels, Dogecoin rose as much as 6500% between mid-2017 to January 2018 from around
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