The cryptocurrency market is again giving renewed hopes as the latest Bitcoin surge has increased the token price. With Bitcoin (BTC) touching $70K, the altcoin market repainted the sector with new trends and metrics.
DogeCoin (DOGE) and Ethereum (ETH) have also projected new price paths and trajectories. Here’s how these tokens will fare in August 2024.
Also Read: XRP Not Meant For Retail, Says Ripple’s Ex-Global Head Dilip Rao
Dogecoin and Ethereum Price Forecast For August
Dogecoin (Doge) Price Prediction August 2024
Dogecoin is the latest cryptocurrency about to note an upward ascent. The token has been projecting a declining price pattern and has yet to break into a bullish trend.
However, several technical analysts have optimistic price predictions for Doge. Javon Marks has shared how Doge is on the verge of a remarkable price ascent, which can help shoot its price up by a staggering 72%.
“Over the years, $DOGE’s log breakouts (displayed) have ALWAYS led to massive upsides, and prices have done so again with a break currently holding! Now, based on the previous 2 breakouts, each of these runs has consecutively gotten larger, and if we are to see this take place again, we can be looking forward to more than $10 DOGE in a >7,200% bull run.”
According to CoinCodex, Dogecoin may take a while to claim this predicted price ascent. The platform predicts DOGE will decline by 13% in August, which may cause the token to trade at $0.01328.
“According to our current Dogecoin price prediction, the price of Dogecoin is predicted to drop by -13.96% and reach $0.101328 by September 1, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 57 (greed). Dogecoin recorded 13/30 (43%) green days with 8.68% price volatility over the last 30 days.”
Also Read: Dogecoin Down 8% This Week, What Went Wrong?
Ethereum Price Prediction for August 2024
Ethereum (ETH) is the second-largest cryptocurrency by market cap. The SEC recently permitted the token to launch its ETFs, and companies are rapidly banking on the opportunity.
This development has helped ETH secure a stable spot in the crypto realm. However, it does not protect Ethereum from occasional market fluctuations.
In August, CoinCodex shared that ETH may spike by a modest 4% to trade at a price level of $3,318.41.
“According to our current Ethereum price prediction, the price of Ethereum is predicted to rise by 4.31% and reach $3,318.41 by September 1, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 57 (greed). Ethereum recorded 17/30 (57%) green days with 5.14% price volatility over the last 30 days.”
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The aforementioned metrics are subject to change as market momentum diversifies for Dogecoin and Ethereum.
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