Dogecoin (DOGE) Rises 30% in a Week: What Are the Next Targets?

The OG meme coin followed the green wave sweeping through the cryptocurrency sector, with its price climbing to a nearly three-month high.

Some analysts think the token is set for a relatively mild increase ahead, while others foresee an explosion to a new all-time high.

What’s Next?

DOGE currently trades just south of $0.09, representing roughly a 30% pump from a week ago. It remains the biggest meme coin and even widened the gap between itself and Shiba Inu after its market capitalization neared $14 billion.

Not long ago, Ali Martinez identified $0.0813 as key resistance, where more than 30 million DOGE were previously traded. He believes a sustained close above this level (as it happened) could result in a further upside, setting the next target at around $0.177.

In addition, the analyst outlined numerous factors that point to a bullish move ahead. Among those are the whales’ accumulation and the Tom DeMark Sequential indicator, which flashed a buy signal.

Martinez’s prediction is modest compared to those of many other analysts. X user MikybullCrypto envisioned an “explosive move on the horizon” that could result in a pump to $3. Vuori Trading was even more bullish, opining that DOGE is “most likely going to $10.”

It is worth noting that such an ascent would require the meme coin’s market capitalization to surpass $1.5 trillion. Even with the recent crypto boom, that type of increase seems quite unrealistic (to put it mildly).

The Key Formation

Approximately a week ago, X user The Great Mattsby paid attention to Dogecoin’s Bollinger Bands. They noted that the channels have tightened and wondered whether this isn’t the biggest squeeze in the asset’s history.

Such a setup usually occurs during periods of low volatility and could be a precursor to a major move (though the direction is unclear, as it may also lead to a violent pullback). At the moment, it seems the squeeze was followed by a significant pump, but who knows what the future holds.

In the meantime, certain elements suggest a correction could be on the way. DOGE inflows into exchanges have surpassed outflows over the past several days, suggesting that some investors have abandoned self-custody and flocked to centralized platforms. This increases the immediate selling pressure and could negatively impact the price in the short term.

DOGE Exchange Netflow, Source: CoinGlass

The post Dogecoin (DOGE) Rises 30% in a Week: What Are the Next Targets? appeared first on CryptoPotato.

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Shin JohnYtv Market News

Share-market news writer and analyst with deep experience covering equities, commodities, forex, and cryptocurrencies for readers in the USA, UK, Canada, and Australia. Ytv Market News delivers timely market updates, practical trading insights, and clear explanations of macro and company-level catalysts that move prices. Combines on-the-ground financial reporting with technical analysis, using concise charts and actionable ideas to help investors and traders make smarter decisions.