Dogecoin price is consolidating below $0.35 as the crypto market sees a slight recovery following recent fluctuations. Traders remain cautious while anticipating a potential breakout. Analysts suggest a bullish trend could push DOGE toward an ATH. As market sentiment improves, investors closely monitor price action for rally signs.
Can Dogecoin Price Reclaim ATH as Crypto Sentiment Improves?
The crypto market has shown bullish momentum, pushing the global market cap to $3.55 trillion, a 1.69% rise in the past day. Trading activity surged, with a 15% jump in 24-hour volume, reaching $130 billion.
Bitcoin remains above $105k, fueling optimism across altcoins like ETH and SOL. Dogecoin, still 55.25% below its ATH of $0.7376 from May 2021, could benefit if market sentiment stays positive.
A sustained uptrend in the broader market may allow the top meme coin to reclaim its peak, driven by increasing investor confidence and strong demand across major cryptocurrencies.
Crypto analysts tweeted that the Dogecoin price is approaching a new ATH, signaling strong bullish momentum. Market trends indicate an imminent breakout, with price action resembling past surges.
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DOGE Momentum Grows Amid ETF Speculation
Dogecoin’s resurgence is drawing attention as the number of whale investors increases. Excitement is building around Bitwise’s recent filing for a spot in Dogecoin ETF, which could redefine meme coin adoption.
If approved, this ETF may significantly impact DOGE’s market trajectory, fueling optimism among investors and traders.
JUST IN: Bitwise files for spot Dogecoin $DOGE ETF.
— Watcher.Guru (@WatcherGuru) January 28, 2025
DOGE Price Poised for Potential Breakout as Cycle 3 Nears Completion
Dogecoin price shows signs of repeating its historical market pattern, suggesting a possible breakout. A recent analysis highlights that DOGE is approaching the final phase of Cycle 3, aligning with previous bullish trends. In both Cycle 1 and Cycle 2, Dogecoin exhibited similar consolidation structures before experiencing exponential price surges.
The third cycle follows the same trajectory, with recent price action mirroring past trends. If history repeats, Dogecoin could be on the verge of a substantial price movement, potentially reaching new highs.
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DOGE Price Analysis
The latest DOGE price is $0.329, reflecting a 0.42% decline over the past day. The meme coin continues to trade within a well-defined range, facing resistance near $0.35 and support at $0.32.
The Relative Strength Index (RSI) is 47, hovering below the neutral 50 level. The Dogecoin price forecast has struggled to maintain momentum above the $0.35 resistance zone. A successful breakout could pave the way for further gains toward the $0.40 mark.
However, failure to surpass this level might lead to another pullback, potentially testing the $0.32 support. If bearish sentiment intensifies, DOGE could dip toward the psychological $0.30 level.
Dogecoin Price Chart: TradingView
To sum up, the Dogecoin price trajectory depends on breaking key resistance levels and sustaining bullish momentum. Market sentiment, ETF speculation, and historical cycles may influence a potential rally toward its ATH.
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