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Dogecoin

Dogecoin Investors Advised On Ideal Exit Points Amid Rally – Here Are The Targets

Godspower Owie
by Godspower Owie
10 months ago
·
Posted in Dogecoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Dogecoin is believed to surge significantly in the ongoing market cycle to new levels due to past trends, with each cycle’s performance bigger than the previous one. As the community awaits the rally, a crypto analyst has highlighted several exit points for investors in order to prevent substantial losses.

Profit-Taking Zones For Dogecoin At Audacious Levels

With Dogecoin showcasing potential for a huge leg-up this bull cycle, determining an ideal entry and exit point is crucial to navigate incoming volatility. As a result, Trader Tardigrade, a market expert and trader, has offered investors critical navigation advice by outlining key profit-taking areas for DOGE.

Related Reading: Dogecoin’s Bull Market Ahead? Expert Hints At Potential 200% Price Rally

This cautionary post comes in light of heightened attention toward Dogecoin among traders and investors, with its recent upside price momentum attracting large capital inflows. Furthermore, the robust optimism from these investors reinforces DOGE’s position as the leading meme coin in the crypto asset market.

Trader Tardigrade’s insights hinge on past cycle breakout, which caused a major rally to a market peak and a new all-time high for DOGE. Given the possibility of the trend repeating in this cycle, the market expert has placed his profit-taking zones for the meme coin between $10 and $30.

Dogecoin
Potential profit-taking zones for DOGE investors | Source: Trader Tardigrade on X

“According to the last cycle, this could suggest your target for DOGE in the current cycle,” he stated. Thus, Trader Tardigrade has urged investors to start collecting profits at the $10 price level while the rally progresses, indicating his confidence in the meme coin’s potential to hit between the $10 to $30 mark.

The expert’s belief in an impending major rally for Dogecoin is further bolstered by a record-breaking monthly close in November, sparking excitement and speculations about an extended bull run within the community.

In November, Dogecoin saw a huge candle that moved from a low of $0.142 to a high of $0.480, indicating a notable increase of more than 237% within the month alone. Due to this, Trader Tardigrader claims that the first candle of the bull rally has just been lit, underscoring a powerful start for the dog-themed meme coin.

DOGE Upside Momentum To Continue?

Dogecoin has been one of the best-performing digital assets in the current bull market. Over the past few weeks, DOGE has recorded significant gains, raising the possibility of more price growth.

Related Reading: Dogecoin Price Prediction: Breakout From Ascending Triangle Says DOGE Is Headed For This Next Critical Level

Although the meme coin witnessed a drop to the $0.39 mark on Monday, it has begun to increase once again, attracting a nearly 2% rise in the past day. Meanwhile, in the past week and month, the meme coin has increased by over 9% and 178%, respectively.

Several key factors, such as persistent whale accumulations and speculations about DOGE being potentially integrated into upcoming X payments, may have triggered its notable upswing in the ongoing cycle.

Dogecoin
DOGE trading at $0.41 on the 1D chart | Source: DOGEUSDT on Tradingview.com
Featured image from Unsplash, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Godspower Owie

Godspower Owie

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Godspower Owie is my name, and I work for the news platforms NewsBTC and Bitcoinist. I sometimes like to think of myself as an explorer since I enjoy exploring new places, learning new things, especially valuable ones, and meeting new people who have an impact on my life, no matter how small. I value my family, friends, career, and time. Really, those are most likely the most significant aspects of every person's existence. Not illusions, but dreams are what I pursue.

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