Dogecoin price is making headlines once again, with its price showing significant bullish momentum, sparking speculation that it could soon erase another zero from its value. The popular meme coin has surged past its previous two-month high, fueled in part by Elon Musk’s recent mention of Dogecoin on his social platform, X. This, combined with a renewed interest in the crypto community, is propelling optimism around DOGE. Interestingly, the rise in Dogecoin price coincides with growing support for Donald Trump in the polls, further adding to the narrative.
Why Is Dogecoin Price Going Up?
Dogecoin’s surge is being driven by a combination of factors, including Elon Musk’s recent mention of DOGE on X, which reignited social media buzz and speculative buying. This comes amid broader altcoin interest as Bitcoin struggles, alongside growing hype tied to Donald Trump’s rising poll numbers. Additionally, Dogecoin is benefiting from ongoing development updates, improving its network, and increasing retail and institutional adoption for payments and microtransactions, creating optimism for further gains.
DOGE price is trading at $0.1346, up 24.1% in the last 7 days, including a 10.2% increase in the last 24 hours. The crypto market is down 0.5% as the Bitcoin price struggles to regain $68,000.
DOGE has experienced dramatic price increases, especially during bull runs, with an 8,000% surge in 2017 and 23,000% in 2021. Will DOGE’s price climb to $2 by December?
Historic Signal Promises $4 Dogecoin Price by March 2025
Dogecoin was created in 2013, unfortunately missing the 2012 Bitcoin halving. But it nevertheless enjoyed some of the pump that followed the halving. However, moving forward, DOGE has displayed exemplary performances following Bitcoin halvings:
- 2nd Halving (July 9, 2016): 231 days after this halving, the price surged by approximately 8,000%, marking the start of a massive bullish run.
- 3rd Halving (May 11, 2020): DOGE price experienced an even more remarkable 23,000% rise 192 days after the halving, peaking during the 2021 bull run.
- 4th Halving (April 20, 2024): DOGE price broke out 156 days after the halving, suggesting the 2025 Dogecoin bull run cycle has begun. Given past trends, a significant price movement could follow.
Using a Fibonacci tool to estimate the price increase, we can see that the price retraced deep into the 0.785 fib levels, but it is headed up now. If the buying pressure persists, Dogecoin price may surge to the 4.236 fib extension level, which coincides with $3.95.
Additionally, the DOGE bull run lasted 294 days in 2017 and 168 days in 2021. The average of these durations is 231 days. 22 days have already elapsed since the DOGE price broke out, meaning the meme coin has about 210 days to hit the top. This puts the timeline around May 16, 2025.
DOGE Price Analysis: All Eyes on $0.22
In the short term, DOGE broke out of a falling wedge and retested it to confirm the bounce. It is now clear the price of DOGE is in a bullish reversal. The immediate resistance currently sits at $0.14.
Beyond that, the Dogecoin price may surge to $0.23, breaking yearly highs. The next stop after that is the $0.29-$0.33 range before finally targeting the previous all-time highs.
Dogecoin price prediction shows if the asset drops back into the falling wedge, it may signal crypto market weakness, turning the breakout into a fake out. DOGE may fall lower during market panic, finding support around $0.08 and $0.077.
The post Is Dogecoin Price Ready to Hit $4 After This Historic Signal? appeared first on CoinGape.
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