Dogecoin Hitting $1 A Matter Of 'When,' Not 'If:' Why These Technical Analysts Are Bullish
Three popular technical analysts continue to remain bullish on Dogecoin (CRYPTO: DOGE) even as the meme cryptocurrency slid to the eighth position in terms of market capitalization among the world’s largest cryptocurrencies.
What Happened: Popular cryptocurrency analyst and trader Justin Bennett told his more than 66,000 followers on Twitter to not give up on Dogecoin and keep holding it as “patience is key.” He added that he is “already long” on the Shiba Inu-themed cryptocurrency.
Staying patient with the second half of my position from the 27s.
Patience is key if you aren't already in. Either dips 0.295 or reclaim 0.31.
That's how I'd approach it if I weren't already in.
— Justin Bennett (@JustinBennettFX) September 5, 2021
See Also: How To Buy Dogecoin (DOGE)
Cryptocurrency expert Scott Melker, known as “The Wolf Of All Streets” on Twitter, told his almost 97,000 followers on the microblogging platform that he believes Dogecoin is poised to rebound to the 0.35 level, based on the Dogecoin-Tether (CRYPTO: USDT) price charts.
$DOGE looks ready to levitate back to .35 pic.twitter.com/jAdWkI8SgH
— The Wolf Of All Streets (@scottmelker) September 5, 2021
The analyst most bullish on Dogecoin, is perhaps, pseudonymous cryptoanalyst and influencer “Altcoin Sherpa.” He believes it's only a question of “when” and not “if” that the altcoin will touch the $1 level.
$DOGE: It's not a question of if #DOGE will hit $1+
It's when... pic.twitter.com/bDTYmrFZri
— Altcoin Sherpa (@AltcoinSherpa) September 4, 2021
Why It Matters: The three analysts join other popular technical analysts like Kaleo, The Crypto Dog and Pentoshi who reiterated their bullish stances as Dogecoin regained the 30-cent level last week.
Cryptocurrency market analyst Gianni Di Poce recently said at the Benzinga Crypto Trading Festival that he “wouldn't be surprised to see DOGE at over a buck a coin.”
Dogecoin’s year-to-date gains are an impressive 5,255.8%. However, the Shiba Inu-themed cryptocurrency is down 58.8% from its all-time high of $0.7376 reached in May and is now in eighth place in terms of market capitalization, as per CoinMarketCap data.
Price Action: Dogecoin is down 1.9% during the last 24 hours, trading at $0.3046 at press time.
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