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Following
DOGE What's the next step?
OG meme coins followed the green wave sweeping the cryptocurrency sector, and prices climbed to nearly three-month highs. Some analysts believe the token will see a relatively modest rise in the future, while others predict it will soar to record highs.
DOGE is currently trading just below US$0.09, up about 30% from a week ago. It remains the largest meme coin and has further widened the gap with Shiba Inu after its market value approaches US$14 billion.
Not long ago, Ali Martinez pointed out that US$0.0813 was the key resistance level, after more than 30 million DOGE units had been sold at this level. He believes that if it continues to close above that level, as has happened so far, it may move further upwards, with the next target price of around $0.177.
In addition, the analyst listed multiple factors pointing to bullish trends, including the increase in whale holdings and the buy signal from the Tom DeMark Sequential indicator.
Martinez's forecast is relatively conservative compared to many other analysts. X user Mikybull believes that "an explosive market is coming" that could push the price to $3. Vuori Trading is more optimistic, believing that DOGE is "very likely to rise to $10."
It is worth noting that such an increase requires the market value of the meme coin to exceed US$1.5 trillion. Even considering the recent cryptocurrency boom, this growth rate, to put it mildly, seems extremely unrealistic.
Key Forms
About a week ago, X user The Great Mattsby paid attention to the Bollinger Band of Dogcoin. He noted that the channel had tightened and questioned whether this was the largest "squeeze" pattern in the asset's history. This pattern usually occurs during periods of low volatility and may be a precursor to a major market (but the direction is unclear and may also trigger a sharp correction). At present, it seems that there has been a significant increase after the squeeze, but the future trend is unpredictable.
At the same time, there are certain signs that a correction may be on the horizon. Over the past few days, DOGE's inflows into exchanges have exceeded outflows, indicating that some investors have abandoned self-custody and moved to centralized platforms. This increases immediate selling pressure and may have a negative impact on prices in the short term.
