Dogecoin (DOGE)
“DOGE to be Set Free!” – Dogecoin Price to Soar as Top Trader Spots Rare Pattern
The ongoing Dogecoin price crash that has seen it plunge by over 67% from its highest point in November last year could be about to end, a top crypto trader said. The trader noted that DOGE had formed a rare chart pattern that often leads to substantial gains over time.
Crypto Trader Hints at an Impending Dogecoin Price Rally
DOGE price remains in a strong downtrend, mirroring the performance of most altcoins that have dropped by double digits this year.
However, an anonymous trader known as Cobbers has predicted that the coin was about to be “set free” and surge. He cited a rare chart pattern that has formed on the daily chart that may trigger this surge.
The pattern he pointed to is known as the falling wedge. This pattern comprises of two down-trending and converging trendlines. In DOGE’s case, the upper line connects the higher lows since December last year. The lower lines links the lower lows since November.
These two lines are about to converge, which is when a bullish breakout typically happens. In this case, a bullish breakout would have the Dogecoin price jump to the key resistance level at $0.2350.
This target is the 61.8% Fibonacci Retracement level. It is also achieved by measuring the distance of the widest part of the wedge, and then measuring the same distance from the breakout point.
As shown below, Cobbers believes that the coin has room to jump to its highest point in 2024, which would imply a 210% surge from the current level.
DOGE Price Forms a Double-Bottom
Dogecoin price has also formed another rare chart pattern that could signal more gains ahead. It has formed a double-bottom pattern on the eight-hour chart. This part has two down peaks and a neckline, and it often leads to a rebound.
In this case, the lower side of the double bottom was at $0.1435, while the neckline is at $0.2070, its highest level on March 26. In most cases, this pattern often leads to more upside as it signals a bottom. It also shows that short sellers are unwilling to place trades below that level.
The bullish view is supported by the fact that oscillators like the Relative Strength Index (RSI) and Percentage Price Oscillator (PPO) have all pointed upwards.
Potential Drivers For DOGE Surge
The value of DOGE has numerous drivers that may push its price higher in the longer term. One of these catalysts is that 21Shares applied for a spot DOGE ETF, joining firms like Bitwise and Grayscale. Odds of that approval are high because it is a proof-of-work cryptocurrency that the SEC does not consider a security.
Also, Dogecoin could benefit if Bitcoin price recovers and surges to $200k as some analysts predict. History shows that BTC and DOGE have some correlation.
Further, Dogecoin price would surge if the Federal Reserve cuts interest rates as analysts predict because of the ongoing trade war.
The post “DOGE to be Set Free!” – Dogecoin Price to Soar as Top Trader Spots Rare Pattern appeared first on CoinGape.
Source link
Dogecoin price dipped 1.2% on Sunday, April 20, as the community marked “DOGE Day” 2025 — the annual celebration of the beloved memecoin’s cultural rise. While previous editions sparked rallies and online hype, this year’s DOGE Day saw more cautious sentiment.
What Is DOGE Day?
DOGE Day, celebrated every April 20 (4/20), is a crypto event popularized by Dogecoin fans and traders.
It originally began as an internet movement to push DOGE to $1 in 2021 and has since evolved into a yearly event marked by online campaigns, memes, and speculative trading activity. For many, it’s a tribute to the memecoin’s origins and a symbol of community-driven growth in the crypto space.
With a market cap of $23.2 billion at press time, Dogecoin maintains its status as the world’s largest memecoin community. However, the DOGE day celebrations have ticked-off with a more subdued tone. On Sunday, DOGE price hovered around $0.159, down 1.2% on the day.
This capped off a lackluster week that saw Dogecoin fail to break out of its consolidation range, stuck below $0.17 despite brief spikes in volume midweek.
The broader crypto market also saw mixed sentiment, with Bitcoin trading sideways near $83,000 and meme coins struggling to regain momentum after a hot Q1. While past DOGE Day celebrations often coincided with speculative surges, 2025’s edition fell short of the hype.
How Will Dogecoin Price React to DOGE Day 2025 Celebrations?
Historically, DOGE Day has sparked renewed interest and short-term rallies in the days leading up to April 20. In both 2021 and 2023, Dogecoin logged double-digit gains as traders piled in on bullish memes and viral campaigns.
But this year, the narrative has shifted — weighed down by political tension, fading enthusiasm, and bearish signals from Dogecoin’s most influential supporter, Elon Musk.
Recent backlash against Musk has cast a shadow over DOGE sentiment. The billionaire entrepreneur, now heading the Department of Government Efficiency (DOGE) within the Trump administration, has come under fire after job cuts triggered nationwide protests.
Investor sentiment, particularly among retail raders, has soured amid concerns over Musk’s political involvement with the DOGE agency and Trump’s renewed trade tariffs.
As a result, assets linked to Musk — including Tesla stock and Dogecoin — have struggled in recent weeks.
As seen in the chart above, Tesla’s TSLA share price closed trading at $241 on Friday shedding 4.15% in the past trading week. Likewise, DOGE price has shed over 12% from its local April high of $0.17 recorded on April 12.
Hence, the muted price action on Sunday, confirms that investors remain hesitant to enter large positions amid the 2025 DOGE Day celebrations.
Dogecoin Price Forecast: DOGE Risks Drop to $0.142 as Momentum Stalls Below Resistance
Dogecoin price forecast today leans cautiously bearish as DOGE struggles to hold above $0.1558, with technical indicators pointing to weakening momentum.
As depicted below, DOGE price is currently pinned just below the 5-day, 8-day, and 13-day simple moving averages — clustered tightly around $0.156 to $0.157 — forming a resistance band that has consistently capped upward attempts. The failure to reclaim this zone suggests bulls are losing steam after a sluggish DOGE Day performance.
The Relative Strength Index (RSI) reads 43.95, hovering just above its signal line at 43.06. While that reflects a mild attempt at recovery, it remains in bearish territory under 50, underscoring the lack of strong buyer conviction. The narrow range with declining volume, hinting at indecision and possible downside continuation.
Within these conditions, Dogecoin price is likely to break below the $0.15 and tumble toward $0.142 — last tested during the April 13 sell-off.
Frequently Asked Questions (FAQs)
DOGE Day, celebrated every April 20 (4/20), honors Dogecoin’s community-driven rise, filled with memes, market hype, and price speculation.
Dogecoin fell 1.5% on DOGE Day due to bearish sentiment from Elon Musk’s political ties and broader market uncertainty.
While $0.20 remains a key psychological level, DOGE must reclaim $0.157 and break resistance for any realistic bullish attempt.
ibrahim
Crypto analyst covering derivatives markets, macro trends, technical analysis, and DeFi. His works feature in-depth market insights, price forecasts, and institutional-grade research on digital assets.
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.
Source link
A Dogecoin (DOGE) price breakout past its previous All-Time High (ATH) price is gradually becoming possible amid the current market setup. While still tied in a long-drawn consolidation, a potential breakout is ahead for the memecoin, according to predictions from market analysts.
Dogecoin Price and Open Interest Outlook
As of this writing, DOGE’s price has changed hands for $0.1569, which has increased by 3.3% in the past 24 hours. This price trend is a testament to how resilient the DOGE price is, having traded at a low spot value of $0.1532. The memecoin has traded at a very close range during this period.
The current DOGE outlook shows a bullish trend in the futures market as showcased by Open Interest data. Data from Coinglass pegs the total Dogecoin committed to the futures market at 9.87 billion DOGE. This was valued at $1.54 billion and has skyrocketed by more than 5% in 24 hours.
Top crypto exchanges like Binance, OKX, and Bybit saw the highest DOGE open interest record. While the price traded at a relatively close range, the open interest commitment proves that traders with leverage are betting on the asset.
DOGE Price to $5.6?
Optimism trails Dogecoin, despite its spot value now trading down 78.71% from its ATH of $0.7376. Market analyst Dogedog told his more than 58,600 followers on X that the price of DOGE is heading to $5.6.
#Dogecoin heading to $5.60.
Breaking falling wedges. pic.twitter.com/XH7bwI7am4
— dogegod (@_dogegod_) April 17, 2025
While Dogegod did not provide a timeline or much context for his prediction, he highlighted how the memecoin breaks falling wedges. The analyst is not alone in his projection for the coin, as an earlier DOGE price analysis, Ali Martinez, predicted a $0.29 rally for the asset in the near term.
Although this price trend is not unrealistic, the broader market slowdown may serve as a bottleneck. Key performance metrics already tipped the Dogecoin price in line for a short-term breakout. With trading volume up 6% to more than $586 million as of writing, retail interest in the coin has further skyrocketed.
Dogecoin remains the lead among altcoins being considered for an exchange-traded fund (ETF) product. As reported earlier by CoinGape, 21Shares filed for a spot Dogecoin ETF, the latest asset manager to make the move. The belief is that an approval can usher in institutional funds, which can help fuel the coin’s price growth.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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.
Source link
Asset manager 21Shares has filed with the US Securities and Exchange Commission (SEC) to offer a Dogecoin ETF. This development comes just as the Dogecoin price rebounds following a wave of sell-offs which saw it drop to as low as $0.14.
21Shares Files For Dogecoin ETF With US SEC
21Shares has filed the S-1 form for its Dogecoin ETF with the US SEC. The asset manager becomes the third to file for a DOGE ETF, joining Grayscale and Bitwise. The next step is for the asset manager, through an exchange, to file the 19b-4 form for this fund, which will officially kickstart the process towards a potential approval from the Commission.
Interestingly, this filing comes on the same day 21Shares launched its Dogecoin ETP on the SIX Swiss Exchange through its partnership with the House of Doge. These two will collaborate again if the SEC approves this ETF, as the asset manager revealed in the prospectus that the House of Doge, the corporate arm of the Dogecoin Foundation, will help in marketing the fund.
Meanwhile, the top crypto exchange, Coinbase, will be the Trust’s custodian. The ETF will hold Dogecoin and provide institutional investors an avenue to gain exposure to the top meme coin.
This undoubtedly provides a bullish outlook for the Dogecoin price, as this move could boost the meme coin’s adoption and further drive inflows into its ecosystem.
DOGE Forms Bullish Divergence
Amid 21Shares’ Dogecoin ETF filing, crypto analyst Kevin Capital has revealed that a daily bullish divergence on DOGE’s chart is starting to play out. He remarked that this development is obviously mostly due to the macro news, but nonetheless, the charts were already hinting at this possibility.
This macro news is Donald Trump’s decision to halt reciprocal tariffs for 90 days. Dogecoin and the broader crypto market rebounded on the back of this news.
However, it remains to be seen if this would be a bullish reversal or a bear trap. As CoinGape reported, crypto analyst Master Kebobi stated that the bottom is in for the top meme coin and predicts that the Dogecoin price would rally to the much-anticipated $1 level in the coming months.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
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.
Source link
Monero’s XMR Rockets 40% as XRP Leads Crypto Majors Gains
The 5 top crypto loan platforms of 2025
XRP Price Shows Strength — Breakout Above Key Levels Possible?
Expert Reveals Why The Ethereum-To-Bitcoin Ratio Is Falling
Analyst Says Solana-Based Memecoin Going Much Higher, Sees PENGU Facing ‘True Test’ After April Surge
Nike sued for $5 million over its shutdown of NFT platform RTFKT
Biological Age vs. Chronological Age: Redefining Age in the Digital Era
TRUMP whale regrets sale, pays double to buy back meme coins
Stripe Tests New Stablecoin Project as $3.7T Market Looms
Falling Wedge Pattern Confirms $264 target
Dogecoin Confirms Daily Trend Reversal With Breakout, Retest, And New Uptrend
Ethereum community members propose new fee structure for the app layer
Crypto Investors Sue Nike, Accuse Apparel Giant of Rug Pull After Abrupt Closure of Metaverse Business: Report
Top cryptocurrencies to watch: Pi Network, XRP, Sui
This Week in Crypto Games: Ubisoft’s ‘Might & Magic’, ‘Peaky Blinders’ in Development
24/7 Cryptocurrency News6 months agoArthur Hayes, Murad’s Prediction For Meme Coins, AI & DeFi Coins For 2025
Bitcoin3 months agoExpert Sees Bitcoin Dipping To $50K While Bullish Signs Persist
Ripple Price1 month ago3 Voting Polls Show Why Ripple’s XRP Price Could Hit $10 Soon
24/7 Cryptocurrency News4 months agoAptos Leverages Chainlink To Enhance Scalability and Data Access
Bitcoin6 months agoBitcoin Could Rally to $80,000 on the Eve of US Elections
Opinion6 months agoCrypto’s Big Trump Gamble Is Risky
Bitcoin5 months agoInstitutional Investors Go All In on Crypto as 57% Plan to Boost Allocations as Bull Run Heats Up, Sygnum Survey Reveals
Bitcoin3 months agoThe Future of Bitcoin: Scaling, Institutional Adoption, and Strategic Reserves with Rich Rines
✓ Share: