Crypto analyst Osemka has suggested that DOGE is at a make-or-break level, where it could see a parabolic move to the upside or suffer a massive decline. The analyst was referring to the Dogecoin EMAwhich could determine the next move for the top meme coin.
Dogecoin EMA will determine the next move for the Meme Coin
In one X messageOsemka said something needs to happen soon, referring to the Dogecoin EMA. The analyst noted that DOGE has been criticized by the EMA for the past three weeks, that soon there will be no more room to apply and a decision will be made. The attached graph showed this the DOGE Prize could still fall to a new low of around $0.084. However, there is also the possibility that the meme coin could finally break above this EMA.
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This comes as Dogecoin continues to struggle to break the psychological level of $0.10. Notably, this EMA is now just below this psychological level, which will likely create further resistance for the top meme coin. The War between the US and Iran also continues to put pressure on DOGE and other crypto prices, which could lead to a bigger decline.
Crypto analyst TraderSZ suggested on which Dogecoin’s next move will heavily depend Bitcoin’s price action. He stated that DOGE could make a move similar to last year, when the meme coin rose to around $0.3. Crypto analyst BitGuru also gave a bullish view on DOGE, indicating a recovery for the meme coin.
In one X messagethe analyst said Dogecoin appears to be done with the downtrend after a liquidity test and long consolidation. If support remains at current levels, the analyst predicts a rise towards $0.13 and $0.15. He added that this is where smart money usually starts positioning.
DOGE is looking at a run to $1.80
Crypto analyst Javon Marks predicted it that Dogecoin could rise to $1.80 in the next bull run. This was because he noted that DOGE has shown a clear and consistent trend of breakout prices throughout the cycles. He added that the meme coin stagnates for a while and then a huge bull run.
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Marks stated that, as part of this trend, Dogecoin’s next phase appears to include a massive run. The targets for the meme coin on this parabolic run include $0.739, $1.25 and a potential rally above $1.80. A rally to these levels would be a sign new all-time highs for DOGE. This rally is expected to take place between now and 2027.
At the time of writing, the Dogecoin price is trading around $0.09639, up more than 4% in the past 24 hours, according to facts from CoinMarketCap.
Featured image from iStock, chart from Tradingview.com