Dogecoin Price To Experience Extreme Volatility?
A popular crypto analyst has warned of potential extreme volatility in the price of Dogecoin (DOGE). The analyst highlighted the tight squeeze in DOGE’s Bollinger Bands on its 4-hour price chart, which indicates a forthcoming increase in price volatility. Bollinger Bands are upper and lower envelopes positioned at standard deviation levels above and below a moving average, and a squeeze suggests low volatility. However, the analyst predicts a significant spike in DOGE price volatility in the near future.
Dogecoin Price Today
Currently, the price of Dogecoin is experiencing slow declines, down 0.10% to $0.07849. The cryptocurrency has a market cap of $11.22 billion and a trading volume of $200.98 million, representing a 28.65% increase. Crypto analyst Crypto Patel believes that Dogecoin could reach a target of $3 in the current bull run, citing previous returns and chart patterns as evidence.
Hot Take: Is Dogecoin Price Poised For Extreme Volatility Amid Dip Below $0.079?
The recent dip in Dogecoin’s price below $0.079 has raised concerns about potential extreme volatility. With Bollinger Bands indicating a tightening squeeze and low volatility, there is anticipation for a significant spike in DOGE price volatility. However, despite this dip, Dogecoin continues to attract attention from traders and analysts who see potential for substantial gains in the current bull run.
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