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Will Dogecoin Price Surge 25% by October End? Analyst Shares Insights

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2 months ago

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The cryptocurrency market showcased a bullish outlook during Sunday’s low-volatility session. Following a 1% surge in Bitcoin price, many major altcoins, including Dogecoin, experienced a renewed recovery in the final week of October. Amid the recent price jump, a crypto analyst highlights a key resistance breakout for DOGE to drive a high-momentum rally. 

Currently, the DOGE price trades at $0.14, with an intraday jump of 2.49%. Meanwhile, the market cap surged to $20.2 Billion.

Will Dogecoin Price Surge 25% by October End? Analyst Shares Insights

This week, the crypto market experienced a sharp correction as the Bitcoin price reverted from its $70,000 barrier. Following the bearish momentum, the dog-themed memecoin DOGE recorded $0.149 to $0.127—  a 14.6% loss.

In a recent tweet, renowned crypto analyst Ali Martinez revealed this pullback as forming a bull-flag pattern. Generally, the pattern showed a dominating trend with a long ‘Pole’ followed by a temporary pullback within two downsloping trendlines to represent a ‘Flag.’

This correction should allow buyers to recuperate the exhausted bullish momentum for the next leap. By press time, the Dogecoin price traded at $0.14 and teased an upside breakout from the pattern resistance trendline.

The analyst highlights a potential breakout from the $0.143 region, which will push the ascend 25% to hit $0.175.

Dogecoin priceDogecoin price

Large Holders Boost DOGE Holdings by 17.6M

According to Santiment data, large Dogecoin holders with wallet sizes between 10 million and 100 million DOGE have increased their holdings, accumulating an additional 17.64 million DOGE. 

This growing accumulation by big players could signal heightened confidence in DOGE’s future price potential and may contribute to stronger price support in the coming weeks.

Dogecoin (DOGE)Dogecoin (DOGE)
Supply Distribtuion | Santiement

DOGE Price Analysis Hints an Escape from Major Accumulation

The Dogecoin price prediction shows the current retracement likely follows a sharp recovery that began in mid-October. Starting from $0.10, the coin’s price surged to a high of $0.149, marking a 48% increase.

The trading view chart shows this upswing breached a key resistance at $0.12, concluding a 4-month accumulation for  DOGE. If sustained, the buyers could drive a 36% rally and hit the $0.00002 barrier.

A recent bullish crossover between the 50-and-200-day EMA could increase the buyer’s dominance for this asset for a sustained rally.

Dogecoin PriceDogecoin Price
DOGE/USDT -1d Chart

On the contrary, if the retest phase fails to sustain the above triangle’s breached trendline, the sellers would strengthen their grip over this asset for prolonged consolidation.

Frequently Asked Questions (FAQs)

Crypto analysts suggest that a breakout above the $0.143 resistance could propel Dogecoin’s price by 25%, potentially reaching $0.175 before month-end.

Dogecoin’s recent pullback is forming a bull-flag pattern on the daily chart, a setup that generally indicates a continuation of the bullish trend after consolidation.

According to Santiment, large Dogecoin holders have accumulated an additional 17.64 million DOGE, signaling confidence in its future potential and adding stronger price support

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

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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XRP Flashing Bullish Signal That Previously Triggered 470% Upside Burst, According to Analyst Ali Martinez

Published

18 hours ago

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January 9, 2025

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A closely followed crypto strategist says XRP is giving off the same bullish signal it flashed late last year before triggering a parabolic surge.

Analyst Ali Martinez tells his 110,100 followers on the social media platform X that XRP may be gearing up for a new leg up based on its SuperTrend indicator.

The SuperTrend indicator is a technical analysis tool that aims to identify potential entry and exit points based on an asset’s trend.

Says Martinez,

“The last time the SuperTrend indicator flipped bullish on the 12-hour chart, XRP went up 470%… It just flipped bullish again.” 

Image
Source: Ali Martinez/X

At time of writing, XRP is trading for $2.28.

Turning to Cardano, the trader thinks that ADA looks poised for a big rally after breaking out from a bullish continuation pattern on the daily chart.

“Cardano ADA is breaking out of a bull pennant, targeting $3!”

Image
Source: Ali Martinez/X

At time of writing, ADA is worth $0.99.

Next up is the top memecoin Dogecoin (DOGE), which the trader says is being gobbled up by deep-pocketed investors.

“Whales bought 140 million Dogecoin DOGE in [24 hours]!”

Image
Source: Ali Martinez/X

Martinez also notes that traders are currently bearish on Dogecoin, suggesting that the meme token may be primed to go against the crowd.

“Dogecoin DOGE weighted social sentiment is at -0.60, which means the crowd remains very pessimistic about its upside potential. This might be a good time to be a contrarian!”

Image
Source: Ali Martinez/X

At time of writing, DOGE is trading at $0.35.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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70 Million DOGE Make Their Way To Binance Amid 10% Dogecoin Price Crash

Published

22 hours ago

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January 8, 2025

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Este artículo también está disponible en español.

Whale Alert, a prominent crypto and blockchain tracking platform, has spotted a massive DOGE deposit amid the Dogecoin price crash. This enormous deposit, involving over 70 million DOGE tokens, was moved by an anonymous whale to Binance, the world’s largest crypto exchange. Moreover, the lofty Dogecoin transaction comes on the heels of a recent10% price crash in the meme coin. 

Whales Move Over 70 Million Dogecoin To Binance

The recent Dogecoin price crash may have triggered fear among investors, as DOGE whales are suddenly selling off their holdings. With analysts and traders expressing hopes of an imminent Dogecoin price breakout, many are voicing frustration and concern over the ongoing DOGE sell-offs, fearing further delays in the market’s momentum.

Notably, Whale Alert spotted a substantial Dogecoin transfer on January 7. The cryptocurrency tracker reported that approximately 70,081,124 DOGE tokens were moved by an anonymous whale to Binance. This massive deposit, worth over $27.6 million, has caught the attention of the crypto market, as most large-scale whale transactions often do. 

Typically, when an asset is transferred from a wallet to a crypto exchange, it indicates the potential for a sell-off. This is because investors often move their holdings to crypto platforms like Binance when they plan to liquidate their positions. 

The recent 70 million DOGE transfer is a large-scale market movement that could lead to increased volatility, potentially triggering more downturn for Dogecoin. At the time of writing, CoinMarketCap’s data shows that the Dogecoin price has declined by more than 11.2% in the past 24 hours. Considering the meme coin’s susceptibility to slight changes in market trends, additional sell-offs could exacerbate fears of further declines, potentially placing even more downward pressure on Dogecoin. 

Notably, crypto analyst Ali Martinez has reported on X (formerly Twitter) that Dogecoin’s TD sequential is presenting a sell signal on its daily chart. Given this development, Martinez states that a Dogecoin price correction should be expected, as widespread liquidations often lead to a downtrend.  

Analyst Cautions Against Selling DOGE

After breaking out of this Ascending Triangle, Dogecoin appears to have returned to the apex, testing it as a new support zone and aiming to bounce off this level to continue its upward trend. Crypto analyst Trader Tardigrade shared a chart on X, highlighting that the apex of the Ascending Triangle could serve as a launchpad for a Dogecoin price rally, with the potential to reach a new ATH of $0.95.

Dogecoin price
Source: X

 

Consequently, Dogecoin investors are being urged to stay on course as the meme coin undergoes this critical phase in its price action. Trader Tardigrade has emphasized that now is not the time to sell off prematurely or short DOGE, as doing so could result in missing the projected price surge to a new ATH.

Dogecoin price chart from Tradingview.com
DOGE price holding above $0.34 | Source: DOGEUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com



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Dogecoin Jumps 20%, But Social Media Still Bearish: Green Signal For Rally?

Published

3 days ago

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January 7, 2025

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Dogecoin has made some notable recovery during the past week, but social media users have remained bearish. Here’s why this could be good for the rally.

Dogecoin Weighted Sentiment Has Remained Negative Recently

As pointed out by analyst Ali Martinez in a new post on X, the Dogecoin Weighted Sentiment still has a red value. The “Weighted Sentiment” here refers to an indicator from the analytics firm Santiment that tells us about the dominant sentiment related to a given asset that’s present on the major social media platforms.

This metric is based on two other indicators: Sentiment Balance and Social Volume. The first of these, the Sentiment Balance, calculates the net sentiment present on social media.

It works by putting the various posts/messages/threads through a machine-learning model to differentiate between positive and negative posts. Then, it takes the two counts and subtracts them to determine the net market situation.

While the Sentiment Balance does provide a rough overview of social media, it may not always be the best representation of the majority of the users, as all it can do is take into account the data of the posts currently present. That is, it only says about the sentiment of the active users, regardless of whether they are actually a minority by count.

To mitigate this problem and achieve more accuracy, the Weighted Sentiment incorporates the second element: the Social Volume. This indicator measures the total unique number of posts on social media that mention the cryptocurrency.

Thus, by weighting the Sentiment Balance by this metric, the Weighted Sentiment ensures that its value only registers a spike (in either direction) when there is both a significant tendency towards one sentiment and a large number of users voicing said sentiment.

Now, here is the chart for the Weighted Sentiment for Dogecoin shared by the analyst that shows the trend in its value over the past few months:

Dogecoin Weighted Sentiment

As displayed in the above graph, the Dogecoin Weighted Sentiment turned negative in December as the meme coin’s bull rally hit an obstacle, and its price reversed to the downside.

The negative sentiment hasn’t changed in 2025 so far, but interestingly, the trend in the price has. Over the past week, the asset has seen a recovery rally of more than 20%. The continued bearish sentiment would imply this run hasn’t been enough to change the opinion of social media users yet.

Historically, digital assets have tended to move in a way that’s opposite to the expectations of the majority. From the chart, it’s apparent that Dogecoin’s tops in November were accompanied by sharp positive spikes in the Weighted Sentiment.

Therefore, considering that the traders are pessimistic towards DOGE right now, chances may be that this latest rally could have further room to run before encountering a wall.

DOGE Price

Following its recovery during the last few days, Dogecoin has seen its value climb to the $387 mark.

Dogecoin Price Chart



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