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 praise by prominent personalities such as Elon Musk. This attracted old and new investors to Dogecoin, which grew by more than 21,000% and reached an all-time high of $ 0.73.
This was followed by numerous crashes that shook the value. Especially since the crash in May, Dogecoin has struggled to maintain its high prices. Investors, emptying their pockets to profit from the profits, continued to drive the price of the asset down. The result was a loss of over 60%, starting from the all-time high. Nevertheless, investors remain optimistic about the coin’s long-term potential.
SOL on 600 dollars, FTT on 300 dollars
“Crypto Godfather” is a well-known crypto analyst on Twitter. With a follower base of 75,000 followers, he has some attraction in this field. Recently refurbished share the pseudonymous trader and analyst shares his thoughts on where the main cryptocurrencies will be on the market by the end of the year. Predictions range from top coins like Bitcoin and Ethereum to lesser-known tokens like FTT and RAY.
The crypto analyst estimates Bitcoin at $ 80,000 by the end of the year, while Ethereum is valued at $ 10,000. This means a growth of at least 200% for the second highest crypto value. Cardano (ADA) is valued by the analyst with conservative 4 $ by the end of the year. The Binance – owned token BNB is estimated at $ 1,200. Again, an increase of over 200% is predicted.
At Doge, Crypto Godfather anticipates a 100% increase to a price of $0.50 by the end of 2021. That’s rather conservative for a token 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 recovers from Flash crash
The flash crash of September 7 has Dogecoin in distress. Just as quickly as the crash occurred, upward corrections occurred. But unfortunately not to the extent that the crash had taken place. Dogecoin had previously moved around $ 0.30. The 18% flash crash had pushed Doge south of $0.2 and put it at risk of hitting new lows.
The Doge price, now trading around $ 0.24, is preparing to retest resistance at $ 0.25. It has found its footing and consolidated above $ 0.23. The next test will most likely propel the altcoin to another rally, bringing it closer to the $0,30 mark.
Text credit: Bitcoinist
Last updated on September 12, 2021
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