Matte Wallace, a popular YouTuber, and DOGE adherent, has revealed via its Twitter handle that Dogecoin will rise by 70% in the coming days. The Dogecoin adherents stated this on November 28, 2021.
In his wordings: “Dogecoin is down now but nowhere near out. More than a 70% chance (according to my metrics) that this next breakout attempt turns into the INSANE SPIKE we have all been waiting for! @MattWallace888.”
For the most part, the weekend trade proved to be bearish for most cryptos. During this bearish trend, Dogecoin lost more of its gains and fell below $0.2. Fortunately, buyers rushed in and quickly pushed the price above $0.2 in a short period of time. And since then, the DOGE price has been consolidating after rising more than 9%.
However, because the danger levels have yet to be relaxed, the price will need a lot of strength to reverse the downturn. The coin gained traction when Elon Musk raised concerns about the DOGE trade on Finance for the second time. Since then, the price has remained in a tight range.
Despite moving above $0.2, the dogecoin price is still lingering around key resistance. As a result, the fear of another retreat should not be overlooked.
The asset has bottomed to the same support levels that it rebounded a couple of times before hitting on the daily chart. As a result, a similar trend reversal could help pull the price out of a downtrend.
The asset is testing support levels at $0.2 for the third time in a row. After each rebound, the price has risen above $0.3, and a similar pattern is likely in the next few days.
However, the volume has been stable since the May fall, with balanced buying and selling pressure. And the likelihood of a move towards $0.34 resistance levels appears to be quite high.
Dogecoin appears to be anticipating another reference from its supposed CEO, Elon Musk. However, each time a mention is made, the DOGE price increase is short-lived, and the price quickly returns to its previous levels.
As a result, retail traders are separating themselves from the asset. Regardless of large whale holdings or accumulations, ordinary traders are more influential in raising levels and increasing volatility.
As Matte Wallace, a popular YouTuber, and a DOGE adherent, tweeted that Dogecoin will rise by 70% in the coming days, let wait and see the credibility of his statement.