Categories: Crypto

Interesting Dogecoin (DOGE) Predictions as of Late


TL;DR

  • Analysts see signs of a major Dogecoin breakout, with one eyeing $0.30 after a successful trendline retest and another forecasting a surge to $1.

  • Whales have scooped up over one billion DOGE in 30 days, while outflows from exchanges signal growing investor confidence and reduced immediate selling pressure.

DOGE Price Explosion Incoming?

The biggest meme coin has been among the best-performing leading cryptocurrencies in the past month. It currently trades at around $0.22 (per CoinGecko’s data), which is a retreat from its local top but still represents a 42% increase for the period. 

DOGE Price, Source: CoinGecko

Some industry participants believe the rally has yet to reach new dimensions. The X user Maximalist observed Dogecoin’s chart to suggest that the price is “about to absolutely explode to the upside.” The analyst envisioned a pump toward a new all-time high of $1. 

For their part, Crypto General claimed the meme coin “has given a big breakout.” They suggested that the next uptrend might start once the price retests the trendline of $0.23.

Ali Martinez also chipped in. He presented a somewhat bearish forecast for the short term, assuming that DOGE might head south to $0.213.

Just a few days ago, though, he pointed out three important factors that indicate the price might jump soon. Those include the rise in active addresses, transaction volume, and whale activity. “All bullish signals that could support further upside,” he said. 

Large investors have been particularly active, accumulating more than one billion DOGE in the span of 30 days. According to Martinez’s chart, those holding between 100 million and one billion coins possess almost 26 billion tokens, constituting 17.5% of the asset’s circulating supply. 

When whales buy large amounts of DOGE, it signals strong confidence, which can attract attention from smaller investors. This increased demand might push the price up, creating positive momentum in the market.

Abandoning Exchanges

Over the past several weeks, daily exchange netflows have been mostly negative, suggesting a potential shift by investors from centralized platforms toward self-custody solutions.

DOGE Exchange Netflow, Source: CoinGlass

Although this development can’t be labeled as entirely bullish, it reduces immediate selling pressure, which could contribute to a potential rally in the near future.

SPECIAL OFFER (Sponsored)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!



Source link

Adam Forsyth

Share
Published by
Adam Forsyth

Recent Posts

SAVVY MINING cloud mining platform helps users earn daily

Disclosure: This article does not represent investment advice. The content and materials featured on this…

27 minutes ago

How to protect your cell phone number from SIM swap attacks

It’s 2025, and cell phone numbers are ubiquitous. We use our phone numbers to sign…

42 minutes ago

First Japanese Company to Pay CEO in Bitcoin

Tokyo Stock Exchange-listed Remixpoint Inc. has announced that it will pay its CEO and President,…

45 minutes ago

Airline giant Emirates to accept Bitcoin and crypto payments for flights, services

Key Takeaways Emirates will enable customers to pay for flights and services using cryptocurrencies starting…

1 hour ago

Ripple vs SEC Nearing Resolution? XRP Investors Watch July 10 SEC Meeting

The SEC could vote to drop its appeal in the Ripple case on July 10,…

2 hours ago

NYT Connections hints and answers for July 9: Tips to solve ‘Connections’ #759.

Connections is the one of the most popular New York Times word games that's captured…

2 hours ago