Dogecoin (DOGE) has experienced a significant 10% price surge, trading at $0.3989 on January 17, with a peak of $0.42 on the one-day chart. A daily candle close above $0.40 could signal a strong trend reversal for the popular memecoin, which has consolidated between $0.30 and $0.45 since November 2024. With the broader crypto market gaining momentum ahead of President-elect Donald Trump’s return to the White House, analysts predict a potential breakout for DOGE in the coming week.
DOGE: The Leading “Dino” Coin
According to prominent crypto trader Daan Crypto, Dogecoin’s recent rally stems from two accumulation periods between $0.30 and $0.33. Earlier in January, DOGE saw a swing failure pattern (SFP) drop its price below $0.40, but a recovery above $0.35 has established a solid foundation for further gains.
Daan Crypto emphasized DOGE’s resilience compared to Bitcoin (BTC) and Ethereum (ETH), noting that while many coins hit new lows during the week’s market flush, Dogecoin formed a higher low, showcasing its strength within its local range. As a top “dino” coin—an established asset outperforming newer tokens—DOGE mirrors the success of other legacy cryptocurrencies like XRP and Cardano (ADA), which surged in late 2024.
Whale Activity and $1 Predictions
Santiment data revealed $200 million in DOGE whale purchases over the past 48 hours, highlighting renewed market interest. WSB Trader, a well-known crypto analyst, estimates a 60% likelihood of Dogecoin hitting the $1 milestone before February.
“Don’t underestimate the influence of Elon Musk and President Trump,” WSB Trader remarked.
Technical analysts echo similar optimism. Mikybull projects a $1 target after DOGE breached a bullish pennant formation, reinforcing the coin’s upward trajectory.
Also Read: Dogecoin Whale Activity Surges, Paving the Way for a Bullish Price Breakout
As retail investors re-enter the market, Dogecoin could trend hard and fast, recapturing its psychological $1 level. With momentum building and market sentiment turning bullish, Dogecoin remains a key contender for further explosive growth in 2025.
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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