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DOGE price is once again racing towards the peak levels seen in August. The price surpassed $0.076 in the evening hours. While Bitcoin has seen significant gains, DOGE had not been able to start its expected price rally. Now that it has surpassed $0.076 again, investors are excited. One renowned crypto commentator has provided a new price target for DOGE.
2023-2024 DOGE Price Prediction
Senior crypto analyst Kaleo recently revealed his price target for DOGE. According to the market expert, DOGE has completed its losses against BTC and the turnaround has begun. As a result, the “meme coin” king could see a several-fold increase against BTC by the end of 2023 and the beginning of 2024.
The expert shared the following chart, stating that the target at the beginning of 2024 is 0.000005 BTC. Considering the current price is 0.000002 BTC, we are talking about a quite impressive target. Moreover, if BTC surpasses $45,000 during the same period, the price could exceed $0.225. The target is $0.175 based on the current BTC price.
The analyst’s prediction will come true with closing prices above 0.0000071 BTC. Indeed, the long-term downtrend is being overcome in current conditions in this region.
Current DOGE Chart Analysis
Dogecoin (DOGE) price is finding buyers at $0.0756. The altcoin surpassed $0.076 for the first time since August 14th and reacted to the resistance of the parallel channel that we have mentioned many times before. Those who have been following the previous analyses will remember the chart below. We mentioned that the price could make new highs above $0.0684.
In the future, permanent closes above $0.0775 and $0.082 will be sought. If the price can turn these regions into support, the targets will be $0.088 and $0.0948. In the short term, the target of $0.082 seems testable. The postponed DOGE-1 mission and Musk’s renewed interest in Dogecoin will be external factors that can support the price.
On the weekly chart, closes above $0.078 and $0.0835 can lead to a target of $0.01. While BTC has not moved far from $35,000 for now and continues to move sideways, the factors we mentioned today suggest that we could see upward new tests.
