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

Analyst Predicts Dogecoin Value Will Hit $0.3

Crypto analyst TradingShot first begins out by explaining the place the Dogecoin worth at present 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. Moreover, there’s 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.

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Different bullish elements that contribute to this are the truth that the Dogecoin worth can also be seeing quite a lot of assist 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 pattern holding.

Transferring on to the current, the Dogecoin worth is now getting into what’s arguably probably the most bullish months in historical past, and with this new month, the crypto analyst believes that the cryptocurrency may take a look at the highest of the higher-highs trendline of the present sample.

Trying on the sample, the highest of the higher-highs trendline ended on the 1.136 Fibonacci extension degree. This Fibonacci extension degree coincides with the Dogecoin worth at $0.32; thus, a take a look at of the higher-highs trendline would put the Dogecoin worth above $0.3 as soon as once more.

Bears May Nonetheless Break Floor

Simply because the 1D MA100 is the extent holding up the value, it may rapidly grow to be bearish for the Dogecoin worth if the bulls fail to carry it. TradingShot explains {that a} candle shut beneath this level would trigger the Channel As much as set off a take a look at of the upper low backside. This may result in a 42.82% decline, inserting the goal as little as $0.17.

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Nonetheless, there appears to be a better reward for consumers at this degree for the reason that market is anticipated to rebound. “Because of this, the present worth motion, which has Doge sitting simply above the 1D MA100, provides a fantastic reward on the bottom attainable threat,” TradingShot said.

Featured picture from Dall.E, chart from TradingView.com