Dogecoin Price Forecast: DOGE plan to hit $1 seems unstoppable
|- Dogecoin price has just hit a new all-time high at $0.495.
- The network activity of DOGE has significantly increased again.
- The digital asset seems to be facing practically no resistance ahead.
Dogecoin price has established a new all-time high of $0.495 and faces no critical resistance ahead. Cryptocurrency enthusiasts have become extremely interested in DOGE again and are pushing its price to new highs.
Dogecoin price aims for more upside action
Dogecoin price broke its previous all-time high of $0.45 and aims to hit $0.77 which is the 127.2% Fibonacci retracement level. Above this point, the next critical price target is $1, a psychological level and also the 141.4% Fibonacci retracement.
DOGE/USD 12-hour chart
In the last week, the number of new addresses joining the Dogecoin network has significantly increased by 30%. Similarly, the number of active addresses also saw a major 44% upswing, indicating that investors are buying DOGE at current prices.
DOGE Network activity
However, the digital asset is facing a ton of selling pressure as the TD Sequential indicator has just presented a sell signal on the 12 and daily charts.
DOGE Sell Signals
Validation of both signals can quickly drive Dogecoin price down to $0.45 in the short-term and as low as $0.294 at the 78.6% Fibonacci retracement level.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.