On January 17th, Dogecoin (DOGE) experienced an increase of 10%, reaching a value of $0.42 on the daily chart. If a candle closes above $0.40, it would suggest a powerful turnaround for this meme-based cryptocurrency, which has been fluctuating between $0.45 and $0.30 since November 11th.
As President-elect Donald Trump prepares to return to the White House, there’s a growing buzz in the cryptocurrency market. Traders anticipate a significant surge in Dogecoin (DOGE) over the coming week.
DOGE is the strongest “dino” coin after Bitcoin and XRP
Dan Crypto, a cryptocurrency trader and investor, pointed out that Dogecoin’s (DOGE) recent price surge was due to two accumulation phases occurring between approximately $0.30 and $0.33. At the beginning of 2025, DOGE showed a swing failure pattern (SFP), causing its price to fall below $0.40 once more.
Nevertheless, the latest rebound beyond $0.35 and subsequent recovery has laid a solid base for Dogecoin to potentially surge ahead. According to the trader’s statement, this is the case.
“This has held stronger on this second flush than most coins, where $BTC, $ETH and many others made new lows on this week’s flush, DOGE made a nice higher low and trades back within its local range.”
Furthermore, the analyst thinks that Dogecoin has the most compelling argument for being classified as a “dino” coin following Bitcoin and Ripple (XRP). The term “dino” or “normie” became popular towards the end of 2024 when established cryptocurrencies like XRP (XRP), Hedera (HBAR), Cardano (ADA), Stellar (XLM), and others began to surge more than newer narrative tokens. In November 2024, Dogecoin experienced a remarkable increase of 222% in just two weeks, similar to the pattern seen in these established coins.
Interest in the market is once more picking up steam, with recent figures from Santiment indicating that large Dogecoin (DOGE) investors have made a $200 million purchase over the last two days.
There’s a 60% chance DOGE hits $1 before February
As excitement builds noticeably in the market, an anonymous cryptocurrency commentator known as WSB Trader predicts that there’s over a 60% likelihood for the memecoin to reach $1 by the end of this month (January). The trader further stated…
“Don’t fade the richest man on the planet, Elon Musk and the most powerful man on the planet, US President Donald Trump.”
Similarly to Johnny, a cryptocurrency investor, expressed to his 785K followers, there may be a comparable impact on DOGE as they experienced with XRP. The investor anticipates that when the meme coin gains popularity, it will surge strongly again and reach its significant mark at $1.
Mikybull, one of our tech analysts, echoed a comparable perspective once the cryptocurrency exceeded a bullish triangle, as demonstrated in the graph. He projected a potential price prediction of $1 upon this pattern’s breakdown.
This piece is provided to offer a broad understanding and shouldn’t be interpreted as legal or financial guidance. The perspectives, ideas, and viewpoints shared within this text belong solely to the writer and may not mirror or align with those held by CryptoMoon.
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2025-01-18 01:11