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CoinGape 2025-01-02 17:37:12

Dogecoin Price Soars 10%: Will Bulls Push DOGE Higher This Week?

Dogecoin Price Soars 10%: Will Bulls Push DOGE Higher This Week?

Dogecoin price surged nearly 10% in 2025 after an impressive 250% rally in 2024. The meme cryptocurrency maintains strong momentum, trading above key levels. The broader crypto market remains bullish, with Bitcoin hovering around $97,000. Market analysts speculate if bulls can sustain DOGE’s upward trend this week, building on its remarkable resilience. Dogecoin Price Soars 10% Amid Crypto Market Recovery As of the reporting time, the DOGE price hovers at $0.3394, reflecting a notable 10% increase over the last 24 hours. The cryptocurrency’s price movement indicates a steady upward trajectory, with the day’s low recorded at $0.3169 and a high of $0.3442. Dogecoin, currently ranked 7 among cryptocurrencies, has shown resilience despite being 54.01% below its all-time high of $0.7376, achieved on May 8, 2021. Bitcoin (BTC) surged past the $97,000 mark today, marking significant bullish momentum in the cryptocurrency market . The rise comes as major altcoins, including Ethereum (ETH), XRP, and SHIB, also recorded gains over the past 24 hours. The global cryptocurrency market capitalization increased by approximately 4%, reaching a staggering $3.42 trillion. This growth reflects increased investor confidence and renewed interest in digital assets amid favorable market conditions. DOGE Technical Analysis Crypto trader and chart analyst has highlighted a bullish trend for Dogecoin price, showcasing a “Broadening Wedge” pattern. According to the trader’s analysis, the meme coin has successfully completed a retest of the key wedge boundary, signaling potential for an upward breakout. This technical formation, commonly associated with price acceleration, aligns with Dogecoin’s anticipated surge to higher levels. Source: X The breakout and subsequent retest serve as pivotal indicators for Dogecoin’s price trajectory. The trader’s chart illustrates the breakout above resistance, followed by a consolidation phase, suggesting strengthened bullish momentum. Dogecoin Price Targets If the bullish momentum makes a comeback, the Dogecoin price forecast could climb past $0.35, with $0.50 and $0.73 as potential targets. The $0.73 level represents its all-time high. Breaking through these levels may set DOGE on a path toward $1. However, if bears regain control, the price may drop below $0.30, signaling a deeper correction. The Relative Strength Index (RSI) on the 4-hour chart is at 63, indicating a bullish outlook but nearing overbought conditions. Dogecoin Price Chart: TradingView The Dogecoin price recent surge highlights growing market optimism, with potential for further gains if bullish momentum persists. However, traders should monitor resistance levels and market conditions to gauge sustained price growth. The post Dogecoin Price Soars 10%: Will Bulls Push DOGE Higher This Week? appeared first on CoinGape .

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