Coin Edition -
- A cryptocurrency analyst predicted that DOGE could soon look to target $0.0944.
- DOGE’s increase in long positions and social volume have been on the increase according to Santiment data.
- At press time, DOGE was trading at $0.07918 after its price slipped by over 3% throughout the past day.
Cryptocurrency analyst Johnny, shared in an X post yesterday that he believes the price of Dogecoin (DOGE) is ready to make a move up soon. According to the post, the meme coin was retesting the $0.07967 support, but if bulls can step in, the analyst believes the token could target $0.0944 very soon.
$DOGE time soon imo – nice retest here on support Think we start pushing higher towards $.0944 next few days pic.twitter.com/h6W0o5Q8AW— Johnny (@CryptoGodJohn) November 18, 2023
The token retesting its immediate support is one of many factors that could propel its price higher. Another catalyst that could provide DOGE with a bit more bullish momentum involves Astrobotic’s announcement of their intention to send a physical DOGE token to the moon in December.
The market intelligence platform Santiment also shared in an X post on Friday that DOGE’s on-chain transaction volume reached its highest level in 3 months. Additionally, there was also a notable increase in the amount of DOGE long positions opening as traders bet on the meme’s price rising.