As Tesla (NASDAQ: TSLA) CEO Elon Musk completed his Twitter (NYSE: TWTR) purchase, one of his favourite cryptocurrencies – meme token Dogecoin (DOGE) – skyrocketed, causing analysts to try and predict where it might go.

Michal van de Poppe identified several important levels to watch to predict Dogecoin’s future price in his tweet on November 1 based on its chart behaviour.

What is the best way to play DOGE at this point?

According to Van de Poppe’s analysis, $0.15 is the area for short region scalping of the decentralised finance token (DeFi). In addition, $0.13 is reserved for long scalping, or as he explained more specifically, “primarily for holding, but probably for scalping.”

Van de Poppe pointed out that $0.11 is the region for “bounce longs” for some scalps of 5-15%, and $0.085 for “swing longs.” This is how he personally would be “playing DOGE at this point.”

A price analysis of DOGE

DOGE was trading at $0.138 at press time, which represents a drop of 5.65% on the day, but it is still up 108.46% on a weekly basis.

According to data retrieved by Finbold on November 2, Dogecoin has a market capitalization of $18.19 billion, making it the eighth-largest cryptocurrency.

It is also worth noting that the number of Dogecoin-made millionaires or retail investors made millionaires by their DOGE investments has recently risen to 1,000 after falling below this level in mid-2022 as a result of broader market bearishness and a Dogecoin downtrend.


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