From what we are seeing, Dogecoin has now re-entered accumulation phase. In my previous vid, I estimated $0.69 and we nailed it 3 times. Traders has 3 chances to hit it and exit but I think it is safe to say that greed go the best of them. Going forward, the next main target zone for Dogecoin isn $0.519. Once we breach it, we can see a climb to $0.65, which is the ultimate resistance that needs to be broken.
This accumulation period can range from 3 to 12 days based on historical data so be patient and do not take unnecessary losses.
As always, happy investing!
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In this pic (attached), you will see that DOGE literally hit $0.519 then pulled back, which is promising sign of what is to come. Thank you for tagging along. The journey is really just getting started
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In yesterdays video, I posted that our major resistance level was $0.519 and DOGE reached it before its significant pullback. This is promising because this is now double top with stable pressure in the near zone [5:48 PM] Keep an eye out of this next period of accumulation leading to a breakout and surge to $0.65
Great review.
Question:
What if Elon Musk announces Doge is to be officially accepted as a payment for Tesla?
calisailor209
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@JackMarch, I appreciate it! If this happens, institutions will likely diversify their portfolios and add this to their list of coins to place into vault. This would in turn decrease the circulating supply and increase demand, increasing the value of the DOGE in-sync with the increased market cap, which is why I still believe the long term value of DOGE is between $1.5 and $2. Currently, the DOGE development team is on the finally step of implementing this coin into the ERC20 protocol space, which will also open additional avenues of investing and increase the ability for people to buy. Theoretically, I believe, we will see an overnight jump of, at minimum, 20%, which from here ($0.416) is around $0.50.
Hopefully this answers your question and it shows how the compounding effect of consumption and utilization of this coin will increase its intrinsic value. It is no longer a meme coin, it is a utility coin now. Once Tesla announces you can use DOGE to buy their vehicles, it will jump 25-50% again.
As well, I believe that Tesla has been methodically approaching this segue into using dogecoin. By saying that they do not want to hurt the environment and stop using Bitcoin, they are opening the avenue for the hyperinflationary dogecoin that in near limitless in production... like any ACTUALLY currency. I hope you get what I am saying here!
JackMarch
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@calisailor209, Thanks a lot for taking your time to explain it! Greatly appreciate it!
junmarkchi97
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how about now? can you update? the support breaks. thanks.
nice review btw
calisailor209
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@junmarkchi97, I will go ahead and another one here in the next hour to update you. Appreciate the support! Thank you for watching
Question:
What if Elon Musk announces Doge is to be officially accepted as a payment for Tesla?