Dogecoin price has soared by over 25% in the past 24 hours, emerging as a top gainer following a recent market downturn. This came alongside a general recovery of the cryptocurrency market that saw the coin gain a lot of attention from traders. crypto analysts now monitor Dogecoin’s ability to reclaim key support levels, with projections hinting at a potential rally toward the $4 mark.
Dogecoin Price Soars 25%; Is a Rally to $4 Next?
A crypto analyst recently shared an X post predicting a potential Dogecoin price surge. According to analysis, every mid-correction phase for DOGE since 2017 has consistently lasted one month after falling below its all-time high (ATH).
Considering this approach to the history, Analyst expects the beginning of a strong upward movement next week, which may drive $DOGE to $4 within a week. This positive outlook is consistent with the triangle shaped patterns visible on the asset’s chart and points towards a hyperbolic rise.
Dogecoin price shows potential for a significant breakout as it eyes a critical resistance level at $0.337 on the daily chart. Analyst highlights that reclaiming this level could set the stage for Dogecoin price prediction to target $0.48 and $0.74 in the coming weeks.
The suggestion is based on strong technical indicators and previous price movements, hinting at a bullish trajectory. However if bears makes another comeback, the meme coin could break below the $0.3 level.
Market sentiment around Dogecoin remains optimistic as traders closely monitor its performance near the pivotal $0.337 threshold. A successful daily close above this resistance could signal a renewed uptrend, attracting more buyers to the meme coin.
Is Dogecoin Price Poised For More Gain Ahead?
The latest DOGE price is $0.3348, marking a significant 22.23% increase in the last 24 hours. Dogecoin has shown strong upward momentum, with its price performance hitting a daily low of $0.2661 and reaching a high of $0.3494.
Most of the cryptocurrencies today have seen notable price surge following the recover. BTC price is hovering around $99k and the ETH $3,400 fuling the bullish recovery in the markets.
The Dogecoin price reveals a surge in social volume alongside a notable increase in its price. This trend began in October 2024, where social discussions and DOGE’s market activity aligned. The data highlights the correlation between heightened online mentions and price movements, showcasing the community’s impact on cryptocurrency markets.
Dogecoin has recently seen a price rise and the investors are feeling upbeat again, with the analysts looking at the potential to identify further potential for the bulls. If DOGE maintains its upward trajectory and breaks crucial thresholds, the meme coin could solidify its position as a leading market performer.
Frequently Asked Questions (FAQs)
The key resistance level for Dogecoin is $0.337.
Analysts suggest $4 is possible, citing historical patterns and technicals.
Increased social mentions and market momentum fueled the rally.
Coingape Staff
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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