Dogecoin price could reach $1, says billionaire Mark Cuban
- Mark Cuban has endorsed Dogecoin once again, stating that it could reach $1.
- The digital asset had a significant 24% rally in the past day but has retraced hard.
- DOGE remains bullish in the short-term despite the recent 10% sell-off.
Dogecoin price has once again spiked towards $0.063 after Mark Cuban, owner of the Dallas Mavericks predicted that the digital asset should reach $1.
If we sell 6,556,000,000 DOGE in Mavs merchandise, Dogecoin should definitely reach $1.
Dogecoin sees a lot of success as payment method
According to Mark Cuban, the Dallas Mavericks have already done more than 20,000 Dogecoin in transactions- Dogecoin is often used as a payment method and cryptocurrency to send funds through exchanges as it is fast and has a low fee.
DOGE/USD 12-hour chart
In the past 24 hours, Dogecoin price had a 24% rally towards $0.063 following Mark Cuban comments. However, the TD Sequential indicator is on the verge of presenting a sell signal on the 12-hour chart which could quickly send Dogecoin down to $0.05 again.
DOGE IOMAP chart
To invalidate the potential sell signal, bulls will need to push Dogecoin price above the last high. The In/Out of the Money Around Price (IOMAP) chart shows that the most significant resistance area is located between $0.057 and $0.059. A breakout above this point will push Dogecoin price towards $0.065 as there is weaker resistance ahead.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
