Crypto Analyst Predicts What Dogecoin Investors Should Expect Price-Wise This Month

Dogecoin has continued on an fascinating path, struggling between $0.2 and $0.24 throughout this time. Bulls have continued to keep up their maintain on the key assist ranges, however this maintain is weakened by the sustained market sell-off that started again in September. However, with the month of October anticipated to be fairly bullish, there could possibly be a quick turn in the tide for the Dogecoin price, with one crypto analyst anticipating the altcoin to rally from right here.

Analyst Predicts Dogecoin Price Will Hit $0.3

Crypto analyst TradingShot first begins out by explaining the place the Dogecoin value at the moment is and the way it’s buying and selling. Presently, the meme coin remains to be buying and selling inside a Channel Up, which started way back to March 2025. Additionally, there may be additionally the truth that Dogecoin has been buying and selling above a brand new assist on a higher-lows trendline. This was a trendline that started again in August, following the low that was recorded on the third day of the month.

Other bullish components that contribute to this are the truth that the Dogecoin price is also seeing a lot of support from the 1D MA100. This 1D MA100 has held up fairly properly, and so long as bulls proceed to keep up it, then the analyst does see the bullish development holding.

Moving on to the current, the Dogecoin value is now coming into what’s arguably some of the bullish months in historical past, and with this new month, the crypto analyst believes that the cryptocurrency might take a look at the highest of the higher-highs trendline of the present sample.

Looking on the sample, the highest of the higher-highs trendline ended on the 1.136 Fibonacci extension stage. This Fibonacci extension stage coincides with the Dogecoin value at $0.32; thus, a test of the higher-highs trendline would put the Dogecoin price above $0.3 as soon as once more.

Bears Could Still Break Ground

Just because the 1D MA100 is the extent holding up the value, it might shortly change into bearish for the Dogecoin value if the bulls fail to carry it. TradingShot explains {that a} candle shut beneath this level would trigger the Channel Up to set off a take a look at of the upper low backside. This would result in a 42.82% decline, putting the goal as little as $0.17.

Nevertheless, there appears to be a better reward for patrons at this stage because the market is expected to rebound. “As a end result, the present value motion, which has Doge sitting simply above the 1D MA100, presents a terrific reward on the bottom attainable threat,” TradingShot said.