DOGE Coin to the Moon!
Who still holds DOGE Coin? Is this meme coin pioneer expected to soar to 1 USD? According to the latest data, a bullish pattern has appeared on the MACD line chart for Dogecoin. DOGE surged by 38% alongside Bitcoin and Ethereum in response to a wave of positive news, reflecting strong market demand. Traders predict that Dogecoin could potentially rise by 180%, setting a target price between 0.65 USD and 1 USD.
Dogecoin Rises 38% This Month, Ranking Fifth in Cryptocurrency
Over the past 7 days, Dogecoin’s price has risen in sync with Ethereum, increasing 38% in May, marking the strongest monthly performance of the year. According to CoinGecko data, DOGE’s trading volume reached 4.7 billion USD in the last 24 hours, placing it fifth in the cryptocurrency rankings (excluding stablecoins).
Positive Market Sentiment Among Long-Term DOGE Holders
Data from CryptoQuant shows that in the past ninety days, DOGE’s spot trading reveals that the Cumulative Volume Delta (CVD) indicates that more units have been actively bought than sold. This pattern last appeared in November 2024, when DOGE suddenly surged 385% to reach 0.48 USD in Q4 that year.
Are We on the Brink of a Major Bull Market for DOGE?
Anonymous technical analyst Trader Tardigrade has revealed a bullish outlook for DOGE/BTC trading. Historically, Dogecoin and Bitcoin have shown a strong correlation; according to Macroaxis data, the correlation over the past three months has been approximately 0.67, indicating that BTC trends typically dictate DOGE’s price movements. Analysts predict that after BTC surges, it may enter a consolidation phase, allowing DOGE to experience a large-scale rebound lasting several weeks.
Trader Tardigrade notes that the recent target price for Dogecoin is 1 USD. Cryptocurrency trader Javon Marks has also set a similar target, forecasting a near-term price of 0.65 USD, which would mark the highest price since May 2021. Marks states that $DOGE (Dogecoin) will demonstrate strong momentum! It could rise nearly 180% or even surpass 1 USD.
The indicators above point to strong market demand, with investors actively accumulating Dogecoin, potentially leading to further significant increases. This is purely market observation and not any investment advice.
Risk Warning
Investing in cryptocurrencies carries high risks, and prices can be extremely volatile. You may lose your entire principal. Please assess the risks carefully.