Dogecoin price forecast – 50% increase

Dogecoin price forecast – 50% increase – price bullish again?

In our last Dogecoin Price Prediction , we looked at the monthly chart and found that the price is likely to be bearish in 2022. But now Elon Musk has written a tweet. In this tweet he wrote “Tesla Merch buyable with Dogecoin” which means: The Tesla Merch can be bought with Dogecoin. This tweet is extremely bullish for the Dogecoin and has led to a short-term surge of around 20%. The Dogecoin price has been rising for a few days. Overall, it has increased in value by 50% in the last few days. But is the price now bullish and can we ignore the full-year forecast for 2022? We'll enlighten you!

Dogecoin price broke out bearishly on the sideways phase between $0.19 and $0.2781 in December. Shortly thereafter, the price was able to form a low at around $0.13. Elon Musk's tweet came out and the price briefly surged above the $0.19 resistance. Should the price rise above $0.19 this month, we would be bullish on the Dogecoin price again in the short term.

Dogecoin price could next rally to $0.2781 assuming we reclaim $0.19 as support this month. There lies the next major resistance where we could bounce. Despite everything, you should only invest “play money” in memecoins. Dogecoin could get bad news quickly, which is why the price could drop extremely.

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