The cryptocurrency market has rebounded strongly from recent volatility, pushing its total value to $2.65 trillion after a 1.30% increase. Riding this wave of recovery, Dogecoin (DOGE) has surged by nearly 2% in the past 24 hours, bolstering bullish sentiment among traders and analysts.
Will Dogecoin Reach $5? Analysts Weigh In
Prominent market analyst CryptoELITES recently shared a bullish Dogecoin forecast on X (formerly Twitter), predicting that DOGE could hit $5 in the near future. The analyst supported this claim with historical chart patterns that suggest a long-term price trajectory toward this ambitious target.
Meanwhile, Trader Tardigrade has highlighted a 5-wave Descending Broadening Wedge pattern on the 4-hour chart. A confirmed RSI bullish divergence led to Dogecoin testing the descending resistance line of the wedge, signaling a potential breakout. If the pattern holds, DOGE could first reach $0.1780 before moving higher.
DOGE $5 is coming soon!
— @CryptoELlTES (@CryptooELITES) March 11, 2025
What do you think?
For more analysis, join my Telegram channel.https://t.co/EeTzlicwoM$DOGE #DOGE #Dogecoin #Memecoin pic.twitter.com/eDkKnhBSxh
Whale Accumulation and ETF Speculation Drive DOGE Resurgence
During the recent market correction, Dogecoin saw a sharp decline of nearly 20%, dropping from $0.22 to $0.17. However, large investors, commonly known as whales, seized this opportunity to accumulate 1.7 billion DOGE—valued at approximately $298 million—within 72 hours.
Reflecting on this surge in whale activity, analyst Lumen projected that Dogecoin could hit $0.5, provided it surpasses $0.2 ahead of potential ETF approvals. Meanwhile, crypto expert DOGECAPITAL has issued an even bolder prediction, stating that DOGE could skyrocket to $90 by the end of 2025.
SEC’s ETF Delay Raises Questions
Despite growing anticipation, the U.S. Securities and Exchange Commission (SEC) has delayed its decision on approving ETFs for Dogecoin, XRP, Solana, and Litecoin. However, ETF Store President Nate Geraci remains optimistic, expressing confidence that these crypto ETFs will eventually secure approval.
Many analysts view $2 as a pivotal target for Dogecoin. Notably, co-founder Billy Markus and analyst Javon Marks both predict DOGE could surge to $2.3, representing a staggering 500% increase. Crypto exchange Changelly estimates this milestone could be reached by July 2032.
Also Read: Dogecoin Dips 9%, Whale Activity Hints at Rebound
As of press time, DOGE trades at $0.1614, marking a 3.64% daily uptick despite experiencing 17% and 34% declines over the past week and month, respectively. Whether DOGE can sustain its upward momentum remains to be seen, but growing investor confidence and whale activity suggest that a bullish breakout may be on the horizon.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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