Is Dogecoin breaking through $18 a dream? Analysts find signals before Dogecoin’s epic surge that will redistribute wealth

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This news was published on November 18, 2023, Taiwan time
The title is: Is it a dream for Dogecoin to break through $18? Analysts found signals before Dogecoin’s epic surge, which will lead to a redistribution of wealth.

Dogecoin (DOGE) has recently maintained its ranking position in the cryptocurrency market, thanks in part to the team’s announced plans to send physical Dogecoin to the moon. However, analyst Tony The Bull discovered a key indicator derived from the 1-month parabolic SAR (Stop and Reverse), which last time it appeared, drove the price of Dogecoin soaring 23,000%. Parabolic SAR is a trend following indicator used to identify turning points in price movements, and this signal suggests that DOGE price may break through $10. Back in 2021, Elon Musk’s social media posts, along with bullish indicators, combined to push the price of Dogecoin higher, climbing from $0.0025 to $0.7. If the same trend resumes, the price may break above $18. Currently, the trading volume of Dogecoin has increased significantly to US$1.9 billion, and has increased by more than 8% in 24 hours to US$0.086, indicating that the market continues to maintain high interest in this cryptocurrency.

This news can analyze the price trend of Dogecoin from the following perspectives:

1. Correlation of the Parabolic SAR indicator with past large increases: Historical data shows that the last time the Parabolic SAR indicator had an impact on Dogecoin, the cryptocurrency’s price experienced a staggering 23,000% surge. Considering that similar indicator signals have appeared again, this suggests that Dogecoin may usher in another round of price increases.

2. The powerful driving role of celebrity effect and market sentiment: Celebrity support for Dogecoin, represented by Elon Musk, once pushed its price from US$0.0025 to US$0.7 in 2021, which highlights market sentiment and social interaction The media has a huge influence on the price of Dogecoin. A recurrence of similar social media activity and celebrity support is likely to further stimulate market attention towards Dogecoin, thereby driving its price higher.

3. **Innovative plans and increased public attention:** The Dogecoin team’s innovative plans, such as sending physical Dogecoins to the moon, are not only a technical innovation, but also an effective public relations activity , able to increase the visibility of this cryptocurrency among the public and media. This increased attention could have a positive impact on the demand and price of Dogecoin.

In general, judging from the current market analysis and trends, the possibility of Dogecoin (DOGE) breaking through $18 is gradually increasing. This outlook is largely based on technical signals that analysts have identified related to past dogecoin surges, specifically the emergence of the Parabolic SAR indicator, which has guided a significant price surge in the past. Additionally, celebrity support and innovative marketing strategies for Dogecoin have provided a strong boost to its price. Therefore, taking these factors into consideration, it is challenging for Dogecoin to reach the target of $18, but it is not completely impossible in the current market environment. Dogecoin is expected to achieve a major increase in value, which is not only for crypto A major shock to the currency market may also be a critical moment for the redistribution of wealth. Based on the above factors, this channel believes that this is the golden moment for long-term investors to accumulate chips and plan for the future. However, it must be emphasized that these views we share are not professional investment advice. They are only based on our observations and analysis. If you have any questions about our interpretation, we recommend that you refer to the source news link attached in the information column. For further verification, it is crucial for investors to do their own homework. Please remember to never invest in something you do not understand, never invest in a position that you cannot afford to lose, and make investment decisions carefully. . Of course, we will continue to pay close attention to the latest developments in Dogecoin.