Dogecoin (DOGE) Price Prediction: Will DOGE Make a Parabolic Rally in November 2022?

Closing October with its second-highest monthly gains in that month since 2014, Dogecoin (DOGE) has lately exhibited amazing momentum. Now in November

Dogecoin (DOGE) has recently shown impressive momentum, closing October with its second-highest monthly gains in that month since 2014. Now into November, investors are expecting the uptrend to continue, especially considering Bitcoin’s strong performance and the fresh crypto community excitement.

Dogecoin, the meme cryptocurrency, is up over 100% for the year, and some analysts believe that it could continue to rally in November. Several factors could contribute to DOGE’s bullish momentum this month.

One factor is Bitcoin’s strong performance. BTC has rallied over 150% in 2022, and its recent breakout above $60,000 has sparked renewed interest in the cryptocurrency market. As the leading digital asset, Bitcoin’s price movements often impact the rest of the market, and its rally could help propel Dogecoin higher.

Another factor is the fresh excitement in the crypto community. After a bear market in 2021, and a market downturn earlier this year, crypto traders are eager for a bull market to return. Several new narratives are emerging, such as meme coins, and NFT collections, and this community hype could drive up demand for Dogecoin.

However, while investors are expecting Dogecoin to rise in November, past performance shows a mixed record for the meme cryptocurrency in the 11th month of the year. Despite this, the stage could be set for yet another noteworthy run by DOGE.

Recent highlighting of a possible triangular pattern in the price chart of Dogecoin by crypto researchers suggests a positive breakout in the too-distant future. This technical analysis formation has preceded major rallies in DOGE price earlier in 2021 and 2017.

Should DOGE manage to close above $0.2 from its current price levels, the analysis by Martinez indicates a potential rise and instills hope for Dogecoin holders about a parabolic November.

Examining November Performances of Dogecoin Historically

Past Novembers’ performance of Dogecoin has been erratic. Based on CryptoRank data, DOGE entered November 2014 with four positive months and six negative months. It had its best return with an 81.9% increase in November 2017, and its lowest came in 2018 with a 42.2% decline.

Inspired by a more general market mood, Dogecoin showed a 22.5% rise in November last year. Though its performance in Q4 can be erratic, this trend illustrates that Dogecoin is still popular among retail investors and traders because of its community-driven momentum and backing from well-known personalities like Elon Musk.

The market is paying careful attention as Musk mentioned Dogecoin recently along with his D.O.G.E proposal. Given rising demand and an optimistic outlook, analysts think DOGE could see continued expansion this November.

Potential of Dogecoin for a Parabolic Curve November

Recent observations by crypto expert Ali Martinez reveal a repeating triangle pattern in DOGE’s price movements, which has preceded large-scale rallies earlier. While the second triangular design in 2021 saw Dogecoin surge by over 15,000%, the first triangle pattern in 2017 produced an 8,933% gain.

Martinez’s projection indicates that if DOGE can break out from its current trend, it might start another significant price rise—particularly if it can maintain a close above $0.2.

Given these trends and the present market attitude, November can be a month to keep an eye on Dogecoin.

Enter Rexas Finance (RXS), why another coin might outshine DOGE in November?

Although Dogecoin is the focus of meme coin enthusiasts, another project in the forefront that might outshine DOGE in November is Rexas Finance (RXS). Unlike Dogecoin, which mostly relies on community hype, Rexas Finance offers a unique value proposition by means of its real-world asset (RWA) tokenization.

This innovative approach enables investors to fractionally own and trade conventional assets—such as real estate, gold, and collectibles—in the crypto market, unlocking broader access to these markets.

Key Characteristics and Benefits of Rexas Finance (RXS)

Real-world asset (RWA) tokenization allows fractional ownership by transforming conventional assets into digital tokens, ultimately reducing investor entry barriers across the board. Operating on Ethereum-based smart contracts,

Rexas Finance facilitates secure and transparent transactions, thereby boosting user confidence and platform reliability through blockchain security.

RXS integrates artificial intelligence (AI) to streamline asset tokenization, and Decentralized Finance (DeFi) integration adds liquidity to tokenized assets

Designed for ease of use, the Rexas QuickMint Bot is integrated with Telegram and Discord, enabling even non-technical users to create tokens on the go by simply chatting.

Presale Prospect for First-time Investors

Currently in its presale stage, Rex