2 weeks Ago
Every year, on April 20, holders of Dogecoin (DOGE) celebrate DogeDay, an event that originated in 2021. However, there is another reason for the celebration. Analysts have predicted more than a 500% surge for the meme coin on the basis of a historical pattern that occurred before one of the rallies in the last cycle.
At press time, DOGE is trading at $0.1832, and it hovers at a major horizontal support. DOGE surged by 13.
39% in the last 24 hours. Since late March, DOGE has been moving sideways in the $0.14-$0.
16 range, signaling the accumulation phase after a downtrend. Volume also surged by 103% to 1.89 billion.
From the historical pattern that happened in previous market cycles, crypto analyst @Steph_iscrypto thinks that the DOGE price is preparing for a big breakout. According to Steph, Doge had gone through a downtrend for about 4 months, and then surged over 500%, skyrocketing from about $0.08 to more than $0.
40. He adds that a similar structure is being built right now, with DOGE once again having declined steadily for 4 months. In the chart, downtrends are marked as ''43 bars, 129d'', corresponding to 43 daily candles over the same period.
“Bottom signal flashing,” Steph tweeted on X, implying that the same pattern is developing again following another 129-day downtrend. If this trend holds, Dogecoin will rise as much as $0.73583 within the next few weeks.
This optimistic view, however, is not for everyone. SwallowAcademy on TradingView predicts otherwise, claiming that Dogecoin will see a sharp plunge before it ever sees the price go higher than its current value. They have studied the price action of Dogecoin for Tether (USDT), which leads them to forecast a possible move down by around 40% as far as the $0.
09 support. SwallowAcademy’s analysis observes that following a brush with close to $0.23 earlier this year, Dogecoin dropped to $0.
09 before rising above $0.45. Analyst @JavonTM1 predicts DOGE could rally up to $1.
25. DOGE is maintaining Higher Lows and just starting to exhibit strength out of this set. DOGE increased in price by over 500% from its previous set of Higher Lows, and having broken out and still holding with a target at $0.
6533 in play, the chart could be indicating one more, at least a 279% run from here. With the strength from the recent pullback, that ceiling could be broken, pushing $1.25+ into play.
- The meme coin segment leader, Dogecoin, is trading at a market price of $0.17. - This marks an intraday recovery of nearly 8% and signals a potential bullish turnaround.
As per a recent tweet by Ali Martinez , Dogecoin is ready to bounce back within a rising channel pattern. For a new recovery run, the Dogecoin price must surpass the $0.17 mark to re-establish a strong support.
- Based on the rising channel pattern, a bullish comeback will likely retest the mid-line near the $0.55 mark. Beyond this, the price channel opens the gates to a possibility of a more than $1 price target.
- On the flip side, a bullish failure to sustain above $0.17 will likely retest the $0.06 support level.
Based on the data released by IntoTheBlock, the current data seems to show a change in Dogecoin holders' demographics. - Long-term holders (more than a year) fall by 2.67%, and medium-term holders (1-12 months) fall by nearly 12%.
- Short-term traders have increased by more than 100%, which possibly indicates that speculative activities are increasing. Also, the whale action is firing up. Huge flows from large holders as increased during the past week have gone up by more than 5%, and over the last month, gone up by a staggering 324%, signaling that the big-shot investors are getting ready for possible price movements.
Here are Dogecoin price predictions by three different sources: Digital Coin Market, CoinCodex, and Changelly. The table below presents their anticipated Dogecoin highest prices for 2025, 2027, and 2030 by providing different market expectations. While many analysts predict a potential 500% surge for Dogecoin, others warn of a possible 40% drop before any breakout, leaving investors eagerly awaiting DOGE's next move.
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