According to crypto analyst Ali Martinez, Dogecoin (DOGE) faces significant resistance between $0.166 and $0.171. The analyst highlights that 75,000 wallet addresses have purchased around 10 billion DOGE coins between $0.166 and $0.171. Nonetheless, if DOGE overcomes this barrier, the asset’s price could double, reaching $0.322, a rise of nearly 100% from current levels.
Also Read: Dogecoin ETF Approval: A Potential Cryptocurrency Milestone?
DOGE’s price has taken a significant beating since its March peak of $0.21. Nonetheless, DOGE witnessed a rally after the US SEC (Securities and Exchange Commission) approved spot Ethereum (ETH) ETFs (Exchange Traded Funds) last week. DOGE is currently up 0.6% in the daily charts, 11.2% in the 14-day charts, and 17% over the previous month.
Source: CoinGecko
How high can Dogecoin (DOGE) go in June 2024?
Source: Mid-Day
According to Changelly, DOGE could hit a maximum price of $0.178 in 2024, which it may attain in October. Reaching $0.178 from current levels would translate to a growth of about 11.25%.
Telegaon, on the other hand, paints a more bullish picture for DOGE than Changelly. The platform anticipates DOGE to hit a maximum price of $0.59 in 2024. Reaching $0.59 from current levels would translate to a growth of about 268.7%.
Also Read: Dogecoin: Here is When DOGE Could Rally 525% And Hit $1
According to CoinCodex, Dogecoin (DOGE) may face a correction in June. The platform predicts DOGE to fall to $0.1445 on June 17, 2024. Reaching $0.1445 from current levels would translate to a growth of about 9.5%.
Source: CoinCodex
Furthermore, Dogecoin (DOGE) may be a part of X’s upcoming payment platform. If the social media giant enables DOGE payments, we may witness a sudden surge in adoption and price. Moreover, prominent DOGE supporter Elon Musk said that Tesla may begin DOGE payment for their vehicles. Both developments could take DOGE to the moon.