Dogecoin Price Prediction If DOGE Bulls Eye Quick 20% Rally To This Key Resistance Zone -TGN

Dogecoin (DOGE) is pumping.

The world’s largest meme cryptocurrency by market cap, which is an independent decentralized crypto network in its own right, rose another 10% on Tuesday, bringing weekly gains to nearly 15%.

Dogecoin has been pumping since Elon Musk’s rebranding of Twitter to X, which is touted as an “everything” app similar to China’s WeChat that also offers users things like advanced and convenient financial services.

The reason Dogecoin is pumping is due to speculation that Dogecoin could somehow be implemented in a future X crypto-based payment solution, which could significantly increase the demand and utility of the cryptocurrency.

Crypto markets are speculating about a Dogecoin integration due to the fact that Elon Musk has been a long time supporter and advocate of Dogecoin.

He regularly references the token on Twitter, is a self-professed investor, and even owns a Shiba Inu dog that the meme coin is based on.

DOGE/USD last changed hands on major cryptocurrency exchanges just above $0.08, up more than 50% from June lows in the $0.05s.

And, amid recent technical developments, price forecasts are becoming significantly more optimistic.

Price Prediction – Where is the Next Move for Dogecoin (DOGE)?

Dogecoin’s 10% gain on Tuesday saw the cryptocurrency break north of two key resistance levels.

These include 1) a downtrend from the 2021 record highs and 2) the 200-day moving average.

While a break above 200DMA is always a good sign of a positive shift in near-term price momentum, the most important break is the move above the downtrend from the 2021 all-time highs.

This sends a signal that Dogecoin’s 2+ year bear market is finally coming to an end.

The most obvious bullish target right now is a retest of 2023 highs in the $0.10 region, which could mean quick gains in the 20% region for investors who get in now.

But why stop at 20%.

If Dogecoin is going to be an important part of a future X payment system, then a retest of last October’s highs in the $0.16 area is a decent possibility, which would represent a gain of almost 100% from current levels.

Alternative Coin to Consider – BTC20 (BTC20)

Billed as ‘Bitcoin on Ethereum’ and as an opportunity for members of the cryptocurrency community to buy bitcoin at the price of $1 in 2011, a new token called BTC20 has gained a lot of hype.

The tokenomics are designed to mimic bitcoin – a token supply limit of 21 million BTC20, with tokens released to BTC20 strikers (instead of miners) on the exact same issuance schedule as bitcoin.

Some argue that BTC20 is even better than bitcoin, as it runs on an eco-friendly, energy-efficient Proof-of-Stake Ethereum blockchain, rather than an energy-hungry Proof-of-Work chain like bitcoin.

According to the project white paperwants to raise BTC20 at least $3 million, although it could be as high as $6 million, through the sale of BTC20 tokens at $1 each.

With the project already raising nearly $2 million in just a few days, traders must act quickly to secure their spot.

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