Dogecoin (DOGE) is experiencing a significant surge in investor optimism, with experts predicting a potential 105% rally in the price of DOGE, targeting a price range of $0.255 to $0.35. Here are the key factors contributing to this bullish outlook:
1. Diamond Bottom Pattern Signals Bullish Reversal
Technical analyst Trader Tardigrade has identified a diamond bottom pattern forming on DOGE’s daily chart. This pattern typically signals a bullish reversal, particularly after a prolonged downtrend. The breakout level is expected to be around $0.165–$0.17, with the price forecasted to rise between $0.255 and $0.35. This suggests that DOGE could experience a substantial upside if the current support holds.
2. Rising ETF Approval Odds
Speculation about a Dogecoin ETF is adding fuel to the fire. Several asset managers, including Bitwise, 21Shares, and Grayscale, have applied for approval to launch Dogecoin ETFs, which could dramatically boost the asset’s price. According to Polymarket, the chances of ETF approval have increased by 25%, with analysts now giving it a 63% chance of being approved by the end of 2025. If DOGE captures 30% to 50% of Bitcoin ETF inflows, the price could rise to between $0.34 and $0.50.
This potential influx of institutional capital could lead to a substantial increase in demand for Dogecoin, helping to propel its price beyond the current resistance levels.
3. Increased Long-Term Holding Activity
Data from IntoTheBlock reveals a 526% increase in the average holding time of DOGE coins over the past 90 days, signaling a shift from short-term speculation to long-term holding. This trend, reminiscent of Dogecoin’s 2021 bull run, suggests reduced sell pressure and growing investor confidence in the asset. As long-term holders dominate the transaction volume, the reduced market supply could lead to upward price pressure, making DOGE more likely to see significant gains.
4. Price Momentum and Support Levels
The Price Momentum Oscillator (PMO) has shown a bullish crossover, indicating that the price could continue to rise if buying volume increases. Analysts believe that maintaining support at around $0.165–$0.167 is critical for sustaining bullish momentum. If the support holds, it could pave the way for a price jump toward $0.175 and potentially as high as $0.183 before reaching the next resistance zone.
Conclusion
The combination of technical indicators, rising ETF approval odds, and increasing investor confidence in long-term holding suggests that Dogecoin is well-positioned for a potential breakout. If these trends continue, DOGE could see a rally of up to 105%, with the price target reaching as high as $0.35. As the market eagerly awaits potential ETF approval and increased institutional involvement, Dogecoin’s future looks increasingly promising.
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