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Yahoo
3 days ago
- Business
- Yahoo
Dogecoin Could Explode For A 2,100% Gain If This Pattern Holds, Trader Warns
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Dogecoin (CRYPTO: DOGE) may be setting up for a massive rally if its long-term logarithmic growth channel holds, according to traders' Price Market Cap 24-Hour Trend 7-Day Trend Dogecoin (CRYPTO: DOGE) $0.1949 $29.2 billion +2.7% -14.9% Shiba Inu (CRYPTO: SHIB) $0.00001315 $7.8 billion +2.9% -9.5% Pepe (CRYPTO: PEPE) $0.00001260 $5.3 billion +8.9% -10.2% Trader Notes: On June 3, crypto analyst Kevin highlighted a key support zone between $0.1839 and $0.1901 as a launchpad for the next leg Tony remains long from $0.148, expecting a breakout above $0.248 to confirm the next move. Trader Tardigrade pointed to Dogecoin's 3-day RSI hovering around 50, a level that has historically preceded major rallies, with upside potential toward $1. Meanwhile, Bitcoinsensus identified that DOGE has been respecting a logarithmic channel since 2014. Past performances include: a 10x from 2014 to 2017 and a 37x from 2017 to 2021. Don't Miss: Trade crypto futures on Plus500 with up to $200 in bonuses — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – unlock the power of alternative investments including a Crypto IRA within your retirement account. This could lead to a possible 21x from 2021 to a projected 2025 peak. If this pattern plays out, DOGE could reach up to $16, an extraordinary gain backed by a decade of price action rather than just short-term hype. Statistics: On May 31, Whale Alert reported a 104.13 million DOGE transfer, worth around $20 million, to Coinbase on May 31, sparking some concerns over potential sell pressure. Coinglass data shows Dogecoin liquidations in the past 24 hours at $3.6 million, with $2.39 million in short liquidations. Open interest in a single day spiked 3.2% while DOGE derivatives trading volume expanded by 12.4%. Options volume is up by 185%. Community News: On June 1, Dogecoin Foundation's senior software engineer Ed Tubbs announced the release of libdogecoin v0.1.4, which introduces Trusted Execution Environment (TEE) for secure key management and signatures. With this upgrade, Dogecoin becomes one of the first cryptocurrencies to support TEE, a feature designed to enhance wallet security in the face of rising threats across the crypto ecosystem. Currently, DOGE boasts $1.06 billion in trading volume, reflecting growing market interest. Read Next: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase. A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase. Image: Shutterstock This article Dogecoin Could Explode For A 2,100% Gain If This Pattern Holds, Trader Warns originally appeared on
Business Mayor
10-05-2025
- Business
- Business Mayor
Crypto Analyst Says Dogecoin Price Breakout Is Programmed, Here's Why
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Dogecoin has spent the past few weeks oscillating in a tight range, with prices hesitating around the $0.17 level and facing consistent pressure near the $0.185 resistance zone. Despite several attempts to push higher, the meme coin has lacked sustained momentum until the past 24 hours after Bitcoin's break above $100,000 again. A recent post by crypto analyst Trader Tardigrade points to the bullish sentiment, suggesting that Dogecoin's next leg up is programmed and perfectly on schedule. Dogecoin's Rally Is Programmed Due To Repeating 29-Day Cycle According to Trader Tardigrade, Dogecoin's price action is showing an interesting regular rhythm. Noting a chart that tracks the Relative Strength Index (RSI) against Dogecoin's daily candlestick price chart, the analyst pointed out that every 29 days, Dogecoin completes a cycle that ends with a breakout. The exact sequence has now occurred three times: each time followed by a sharp rally. The image accompanying his post illustrates three distinct RSI breakout points spaced exactly 29 days apart, with each initiating a powerful upward move in Dogecoin's price. Source: Trader Tardigrade on X This repeating cycle appears to be driven by RSI downtrend breakouts. The first breakout occurred in early March, while the second breakout occurred in early April. In each of the two previous occurrences, Dogecoin's RSI formed a descending trendline that was broken just as the cycle reset, which sent price action upward. Now, with the most recent RSI downtrend line also broken and the 29-day interval completed once again, the conditions for another programmed move are, in Tardigrade's words, 'on time.' Read More NEAR: Why you should keep an eye on this AI token Programmed Uptrend To Send DOGE Above $0.23 Again The technical basis behind Trader Tardigrade's prediction is in the RSI behavior. The RSI is a momentum indicator often used to detect potential reversals or continuations in price action. In Dogecoin's case, the RSI has consistently reset downwards since it broke below oversold levels on March 9. However, the past two cases have led to a slow build-up, eventually breaking above a local resistance line. Notably, the RSI breakout is occurring at the exact same interval as the one seen in the previous two rallies. The green arrows on the chart, placed directly after each RSI breakout, show clear and steep price increases, showing these moments mark the beginning of bullish phases. If the pattern holds, Dogecoin may enter another strong upward phase that could take it beyond the $0.20 level. Particularly, a measured move based on the two previous playouts put the price target toward the next psychological resistance zone around $0.24. This price target resonates with a different technical outlook, which is based on a head and shoulder formation showing up on the daily timeframe. At the time of writing, Dogecoin is trading at $0.1971, up 9% and 8.9% in the past 24 hours and seven days, respectively. This latest uptrend is caused by Bitcoin's recent break above the psychological $100,000 price level. DOGE trading at $0.20 on the 1D chart | Source: DOGEUSDT on Featured image from Getty Images, chart from
