A widely-followed cryptocurrency analyst reiterated his bullish forecast for Dogecoin DOGE/USD on Tuesday, calling the $1.30-$1.50 range a “point of interest.”
What Happened: Kevin, known for sharing insights and forecasting price movements of the world’s largest meme coin, reaffirmed his predictions from September.
“This is still my opinion. Anything in between these targets is also possible,” he said.
The X post he referred to set bold price targets for Dogecoin in the ongoing cycle.
“If we get a true bull this cycle, then my price targets are .93 cents (good performance) – $2.27 (Huge outperformance) – $3.80 (astronomical performance),” the analyst had said.
The Relative Strength Index indicator was in the neutral zone as of this writing, having dipped below 70 earlier this week, data from TradingView showed.
The Moving Average Convergence Divergence, a popular momentum oscillator indicator, flashed a ‘Sell’ signal, with the Moving Average Convergence Divergence line crossing below the signal line.
Why It Matters: Kevin’s remark coincided with the cryptocurrency market’s volatile moves on Tuesday, fueled by political uncertainty in South Korea.
Dogecoin was also impacted as long-term holders of the cryptocurrency liquidated their stash, evidenced by a 0.88% drop in their balance seen from IntoTheBlock data.
Additionally, large transaction volume soared 41%, implying strong participation from whales.
Price Action: At the time of writing, DOGE was trading at $0.4163, down 1.07% in the last 24 hours, according to data from Benzinga Pro.
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