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

The cryptocurrency market showcased a bullish outlook during Sunday's low-volatility session. Following a 1% surge in Bitcoin price, many major altcoins

Cryptocurrency prices showed bullish signs on Sunday during a low-volatility session. With a 1% gain in Bitcoin price, major altcoins like Dogecoin saw a recovery in the last week of October. Amid the recent price uptick, a crypto analyst pinpoints a key resistance breakout for DOGE to propel a high-momentum rally.

Currently, the DOGE price trades at $0.14, showing a 2.49% intraday gain. At the same time, the market capitalization rose to $20.2 Billion.

Dogecoin Price to Surges 25% by October End? Analyst Breaks Down Chart

This week, the crypto market saw a sharp correction as the Bitcoin price pulled back from the $70,000 resistance. Following the bearish momentum, the dog-themed memecoin DOGE dropped from $0.149 to $0.127, marking a 14.6% loss.

In a recent tweet, prominent crypto analyst Ali Martinez pointed out this pullback as a bull-flag pattern formation. Typically, the pattern showcases a strong trend with a lengthy ‘Pole’ followed by a temporary pullback within two downsloping trendlines to depict a ‘Flag.’

This correction allows buyers to consolidate the exhausted bullish momentum for the next leg up. By press time, the Dogecoin price trades at $0.14 and teases an upper breakout from the pattern resistance trendline.

The analyst highlights a potential breakout from the $0.143 zone, which will propel the asset up 25% to hit $0.175.

Large Holders Increase DOGE Stash by 17.6M

According to data from Santiment, large Dogecoin holders, specifically those with wallet sizes ranging from 10 million to 100 million DOGE, have increased their stash, adding 17.64 million DOGE more.

This accumulation by big players signals strong optimism regarding DOGE’s future price potential and may contribute to stronger price support in the upcoming weeks.

DOGE Price Analysis Suggests Breaking Out of Major Accumulation

The Dogecoin price prediction showcases the current retracement following a sharp recovery that began in mid-October. From $0.10, the coin’s price surged to a high of $0.149, notching up a 48% gain.

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