Dogecoin Price Prediction: DOGE Price Analysis Targets $0.22, Promises $4 Price by March 2025
- DDDOriginal
- 2024-10-18 15:42:15501browse
Dogecoin price is on a tear and just surpassed its previous two-month high following Elon Musk mentioning D.O.G.E on X.
Dogecoin price is up again today, adding to the gains made over the past week, following Elon Musk mentioning D.O.G.E during his X appearance and amid increasing chatter about Donald Trump rejoining the polls.
The crypto market is up, with Bitcoin price struggling to hold above $68,000 as the market cap drops to $3.6 trillion. The total volume over 24 hours has decreased by 1.5%.
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Dogecoin price today is $0.1330, up 23% in the last 7 days, including a 6.8% increase in the last 24 hours. The meme coin encountered resistance at $0.14 during the last bull run.
Dogecoin price enjoyed some of the pump that followed the 2012 Bitcoin halving. However, moving forward, DOGE has displayed exemplary performances following Bitcoin halvings:
In 2017, following the Bitcoin halving, DOGE price increased by 8,000%.
In 2021, following the Bitcoin halving, DOGE price increased by 23,000%.
Applying a Fibonacci tool to estimate the price increase, we can see that the price retraced deep into the 0.785 fib levels, but it is headed up now. If the buying pressure persists, Dogecoin price may surge to the 4.236 fib extension level, which coincides with $3.95.
Moreover, the DOGE bull run lasted 294 days in 2017 and 168 days in 2021. The average of these durations is 231 days. 22 days have already elapsed since the DOGE price broke out, meaning the meme coin has about 210 days to hit the top. This puts the timeline around May 16, 2025.
DOGE Price Analysis: All Eyes on $0.22
In the short term, DOGE broke out of a falling wedge and retested it to confirm the bounce. It is now clear the price of DOGE is in a bullish reversal. The immediate resistance currently sits at $0.14.
Beyond that, the Dogecoin price may surge to $0.23, breaking yearly highs. The next stop after that is the $0.29-$0.33 range before finally targeting the previous all-time highs.
Dogecoin price prediction shows if the asset drops back into the falling wedge, it may signal crypto market weakness, turning the breakout into a fake out. DOGE may fall lower during market panic, finding support around $0.08 and $0.077.
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