A widely respected cryptocurrency analyst has once again emphasized his optimistic outlook for Dogecoin DOGE/USD. On Tuesday, he pointed out the $1.30 - $1.50 range as a significant "point of interest."

What Happened: Insights and Predictions

Kevin, renowned for his in-depth analysis and accurate price movement forecasts of the world's largest meme coin, has reaffirmed his predictions from September. He stated, "This is still my opinion. Anything within these targets is also a possibility." His X post set bold price targets for Dogecoin during the ongoing cycle. He said, "If we experience a true bull run this cycle, then my price targets are.93 cents (indicating good performance) - $2.27 (suggesting huge outperformance) - $3.80 (signifying astronomical performance)." Adding to his earlier estimate, Kevin also mentioned that the $1.30 - $1.50 range is a viable target. If the cryptocurrency reaches this range, it would imply a substantial 212% - 260% increase from the current value.As of now, the Relative Strength Index indicator is in the neutral zone. Earlier this week, it dipped below 70, as per data from TradingView. The Moving Average Convergence Divergence, a widely used momentum oscillator indicator, flashed a 'Sell' signal as the Moving Average Convergence Divergence line crossed below the signal line.

Why It Matters: Market Influences

Kevin's remark came at a time when the cryptocurrency market was experiencing volatile movements on Tuesday, mainly driven by political uncertainty in South Korea. Dogecoin was also affected as long-term holders of the cryptocurrency began to liquidate their holdings. Data from IntoTheBlock showed a 0.88% drop in their balance. Additionally, there was a significant surge of 41% in large transaction volume, indicating strong participation from major investors.

Price Action: Current Trends

At the moment of writing, DOGE was trading at $0.4163, showing a 1.07% decline in the last 24 hours, according to data from Benzinga Pro. The cryptocurrency market continues to be dynamic, with various factors influencing its price movements. Investors and enthusiasts are closely watching these developments to understand the future trajectory of Dogecoin.