Dogecoin Could Go To $0.322 If It Overcomes This Key Resistance Level, Analyst Notes

Zinger Key Points
  • Dogecoin could surge in price if it overcomes the key resistance zone it currently faces.
  • Dogecoin's rivals WIF and FLOKI are currently outperforming the apex meme coin.

Cryptocurrency analyst Ali Martinez shared insights about Dogecoin DOGE/USD on Tuesday, highlighting significant resistance levels to be overcome for the most valuable meme coin.

What Happened: Martinez noted Dogecoin faced resistance between $0.166 and $0.171, where approximately 75,500 addresses accumulated nearly 10 billion Dogecoin.

He emphasized that overcoming this resistance could lead to a substantial price increase for Dogecoin, writing, “Once this barrier is overcome, #DOGE has the potential to double, with the next key resistance around $0.322.”

Why It Matters: Martinez’s insights came as Dogecoin’s canine rivals Floki FLOKI/USD and dogwifhat WIF/USD saw a resurgence in price. Meanwhile, Dogecoin was under scrutiny, not living up to analysts predicting significant price movements.

A recent analysis suggested a potential 30% upside for Dogecoin, which indicated a possible reversal in its price trend, had thus far failed to materialize.

Other rivals such as Shiba Inu SHIB/USD have shown comparatively stronger performance, as a trader recently highlighted Shiba Inu’s outperformance compared to Dogecoin.

Price Action: At the time of writing, Dogecoin was trading at $0.1636, down 4.62% over the past 24 hours.

What’s Next: The influence of meme coins is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo: Shutterstock

Market News and Data brought to you by Benzinga APIs
Posted In: CryptocurrencyTopicsTop StoriesAI GeneratedExpert IdeasMeme Coins
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!