Dogecoin Price Prediction: DOGE Volumes Nearly Double – Can It Get to $1 In This Cycle?

Dogecoin (DOGE) has gone up by 10% in the past 24 hours and currently sits at $0.2360 as the top meme coin is playing catch-up with newcomers to maintain its leadership.

In the past 30 days, DOGE has shined as it has delivered gains of 40.5%. Trading volumes in the past day have surged by nearly 90% and currently account for 19% of the token’s circulating market cap, which favors a bullish Dogecoin price prediction.

Meme coins as a whole have experienced a 41% increase in the past 30 days. Since Dogecoin is the dominant player in this category, accounting for 47% of its combined market cap, its performance has a big influence in the space.

However, Solana-based meme coins like Bonk (BONK), Fartcoin (FARTCOIN), and, lately, Pudgy Penguins (PENGU) have been gaining more and more influence. BONK and PENGU stand out from the pack as they have produced 30-day gains of 145% and 230% respectively.

Despite their rally, the combined value of Solana meme coins – as tracked by CoinGecko – is still accounts for just 43% of DOGE’s market cap.

A new bullish cycle could benefit the top meme coin as it is considered the most robust of all assets, having withstand multiple previous downturns.

Dogecoin Price Prediction: DOGE Shows Signs of an Upcoming Explosive Move Toward the $0.367 Level

The daily chart shows that DOGE has retreated today upon hitting the $0.2500 psychological resistance level.

Strong volumes emphasize that both buying and selling pressure has mounted at this level. Hence, it can be considered a key area of resistance to watch for the next few days.

We could see DOGE consolidating between $0.215 and $0.255 for a few days or maybe the market will opt to break above this area – in which case the $0.2500 level will be turned into support.

A powerful buy signal was just triggered as the 9-day exponential moving average (EMA) moved above the 200-day EMA.

Before this move, DOGE has formed a rounding bottom, a pattern that typically precedes a strong bullish breakout.

To confirm this pattern’s bullish bias, the price would have to break above and retest the $0.255 zone. If that happens, we could witness a strong move toward the $0.367 area by using the magnitude of the previous move as a reference.

Hence, maybe DOGE will not reach $1 in the near term but the current setup and price action favors an explosive move toward much higher levels in the next few weeks. To profit from these moves, a new crypto futures trading platform makes it easier to enter long and short positions.

You Can Profit from DOGE’s Next Moves Via CoinFutures – A New Crypto Trading Platform

CoinFutures lets users profit from predicting the price swings of multiple cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) without the hassle of engaging in real trading.

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If you want to take part of crypto’s next bullish cycle, simply head to the CoinFutures website and hit the “Register” button.

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Alejandro Ar