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May 22, 2024
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DOGE Price Displays Bullish Signs, AAVE To Surge By 80% Soon

The post DOGE Price Displays Bullish Signs, AAVE To Surge By 80% Soon appeared first on Coinpedia Fintech News

Dogecoin has managed to smash above $0.072 for the first time in ten weeks, coinciding with the breakout of Ethereum.

With repeated rallies and downtrends in bigger coins, it’s an open challenge for the lesser-known coins to gain market traction.

Looking at the graph, an expert, who is widely regarded, has expressed his bullish sentiments regarding Dogecoin (DOGE), which is a decentralized finance (DeFi) protocol based on Ethereum (ETH). This comes amid a rise in the prices of crypto assets.

Dogecoin is currently appearing to be “crazy optimistic” when taken in conjunction with Bitcoin, claims the pseudonymous cryptocurrency expert ‘Smart Contracter’ to his 211,800 Twitter followers (BTC).

According to Smart Contracter, Dogecoin’s price on the Bitcoin chart has displayed an inverted head and shoulders (IHS) pattern for nearly a year now.

“Considering investing the balance of my Bitcoin into Dogecoin for a few months.”

DOGE Technical Outlook

  • Smart Contracter says that the current DOGE/BTC chart is exceptionally bullish- the most he’s seen in a while
  • IHS breakout has been going on for about a year and is hardly being discussed.
  • Dogecoin is on the verge of breaking out to the upside on the Bitcoin chart, according to crypto analyst Smart Contracter earlier this week.
  • Having already tested this trend line five times : “DOGE/BTC is so near to breaking a 12-month+ inverse head and shoulder [pattern].”
  • The last thing he expects is for it to come back and provide those who missed out a second shot when it vanishes.
  • In his opinion, this chart is one of the most aesthetically pleasing representations of Bitcoin and alternative cryptocurrencies.
  • Finally, as expected, despite Dogecoin’s rapid rise, market experts caution investors against placing too much stock in it.

Aave (AAVE) Price

Next, the crypto trader and analyst take a look at the DeFi system and Aave (AAVE). Smart Contracter estimates that Aave’s price might increase by more than 78% in just under eight weeks.

If I can get any AAVE shares for less than $76 in the next day or two, I plan to make an entry. According to my analysis, it has put in a much higher low on the daily time frame and is headed to $150+ over the next month or two.

At the time of this writing, Aave is selling for $83.65 per share.

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