30s Summary

Dogecoin, the meme-based cryptocurrency, has seen its value increase by 159% between November 6th and November 12th, leading to speculations that it could reach a new high of $0.73. Traders predict another possible surge in value based on the Gaussian Channel, a method for predicting asset prices. Despite expectations for the currency to exceed $1, some predict an upper limit of between $3 and $5 by 2025. Meanwhile, analytics platform Santiment notes decreased activity in Dogecoin wallets, indicating potential larger purchases from investors planning to hold long-term. Investing in cryptocurrencies carries risks, so careful research is advised.

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Dogecoin, a cryptocurrency that started as a meme, has seen a jump of 159% in value from November 6th to November 12th. This has led to speculations about the currency reaching an all-new high of $0.73.

People are keeping an eye on Dogecoin again as an indicator suggests that the currency could see another surge in value in the coming weeks. A market pattern analyst, Trader Tardigrade, posted that Dogecoin might again follow its historical price path, based on something called the Gaussian Channel.

The Gaussian Channel is a way for people to predict the highest and lowest prices of a particular asset. In Dogecoin’s case, it showed that the currency has received support from the middle line of the Gaussian Channel three times in its history. And if history’s any teacher, Doge is set for a big increase.

At the same time, independent trader Javion Marks thinks that Dogecoin getting back to its previous all-time high of $9.73 is practically a done deal. Marks has used past big increases in the currency’s value in 2016, 2021, and 2024 to make this prediction.

While there are expectations for Dogecoin to go beyond $1 based on the Gaussian Channel, diminishing returns have been used to predict that the upper limit could be somewhere between $3 and $5 by 2025.

In the past, Dogecoin has seen a little bit of a struggle just below its previous high value during a surge. So, there’s a chance that it might take some time to go above $0.73 before things speed up again.

Santiment, an analytics platform, has noted that the activity in Dogecoin wallets has gone down in the last day, which is a good sign. According to the platform, this often indicates that people are selling their coins out of fear, which are then likely being bought up by larger players planning to hold on to them for a longer duration.

Just remember, any kind of investment or trading comes with risks, so do your homework before making any decisions.