Dogecoin has suffered losses with the recent crash in the market. But the problems didn’t just start with the crash. The digital asset had grown and had received most of its value through hype. This was mainly due to the promotion by prominent personalities such as Elon Musk. This lured old and new investors to Dogecoin, which gained more than 21,000% and reached an all-time high of $ 0.73.
This was followed by numerous crashes that shook the value. Dogecoin has struggled to keep its prices high, especially since the May crash. Investors emptying their pockets to take advantage of the gains drove the asset’s price lower. The result was a loss of over 60% from the all-time high. Still, investors remain optimistic about the coin’s long-term potential.
SOL at $ 600, FTT at $ 300
“Crypto Godfather” is a well-known crypto analyst on Twitter. With a follower base of 75,000 followers, he has a certain attraction in this area. Recently shared the pseudonymous trader and analyst with his thoughts on where the most important cryptocurrencies will be in the market by the end of the year. The predictions range from top coins like Bitcoin and Ethereum to lesser known tokens like FTT and RAY.
The cryptoanalyst estimates Bitcoin at $ 80,000 by the end of the year, while he estimates Ethereum at $ 10,000. That means a growth of at least 200% for the second highest crypto value. Cardano (ADA) is valued by the analyst at a conservative $ 4 through the end of the year. Binance’s own BNB token is valued at $ 1,200. Here, too, an increase of over 200% is predicted.
At Doge, Crypto Godfather expects a 100% increase to a price of $ 0.50 by the end of 2021. This is rather conservative for a token that is so prone to erratic movements. Other predictions see SOL at $ 600, Ripple’s XRP at $ 2.8, FTT at $ 300, LINK at $ 100, SRM at $ 120, and RAY at $ 50.
Dogecoin is recovering from the flash crash
The flash crash of September 7th put Dogecoin in distress. Upward corrections occurred just as quickly as the crash occurred. But unfortunately not to the extent that the crash took place. Dogecoin had previously moved around $ 0.30. The 18% flash crash had pushed Doge south of $ 0.2, putting it in danger of hitting new lows.
Doge price, now trading at $ 0.24, is preparing to retest resistance at $ 0.25. It has found its footing and has consolidated over $ 0.23. The next test will most likely propel the altcoin to another rally that will bring it closer to the $ 0.30 mark.
Proof of text: Bitcoinist
Last updated on September 12, 2021
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