The cryptocurrency market has rebounded significantly, reaching a valuation of $2.65 trillion after a 1.30% increase. Dogecoin (DOGE), the leading meme coin, has mirrored this bullish momentum, rising nearly 2% in the last 24 hours. Analysts remain optimistic about DOGE’s future, with several forecasting a major breakout in the coming months.
Will Dogecoin Hit $5?
Market analyst CryptoELITES recently shared a bullish Dogecoin forecast on X, predicting that DOGE could reach $5 in the near future. Supporting this outlook, CryptoELITES referenced historical chart patterns signaling an impending rally.
Adding to the optimism, Trader Tardigrade identified a 5-wave Descending Broadening Wedge pattern on the 4-hour chart, indicating a potential breakout. The Relative Strength Index (RSI) also confirms a bullish divergence, with Dogecoin rebounding to test the wedge’s descending resistance line. Based on this technical setup, analysts anticipate DOGE hitting $0.1780 soon.
DOGE $5 is coming soon!
— @CryptoELlTES (@CryptooELITES) March 11, 2025
What do you think?
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Whale Activity and ETF Speculation Drive Momentum
Despite a recent 20% correction that saw DOGE fall from $0.22 to $0.17, large investors took advantage of the dip, accumulating 1.7 billion DOGE worth $298 million within just 72 hours. Analyst Lumen believes this whale activity could drive Dogecoin’s price toward $0.50 if it surpasses the crucial $0.20 mark.
Meanwhile, crypto expert DOGECAPITAL presented an even bolder prediction, suggesting that DOGE could skyrocket to $90 by 2025. Such ambitious projections, however, hinge on broader market trends and potential ETF approvals.
Regulatory Uncertainty: Will the DOGE ETF Be Approved?
The U.S. Securities and Exchange Commission (SEC) recently delayed its decision on approving spot ETFs for Dogecoin, XRP, Solana, and Litecoin. Despite this, ETF Store President Nate Geraci remains confident that regulatory approval is inevitable, which could significantly impact DOGE’s price trajectory.
Historically, $2 has been a key psychological target for Dogecoin. Crypto analysts, including co-founder Billy Markus, project a surge to $2.3, representing a 500% increase. Changelly estimates DOGE could hit this target by July 2032.
Also Read: Dogecoin (DOGE) Eyes Breakout: Key Support and Resistance Levels to Watch
As of writing, DOGE trades at $0.1614, marking a 3.64% daily increase despite a 17% decline over the past week. The road to $5 remains uncertain, but growing adoption, whale accumulation, and ETF anticipation suggest Dogecoin’s next big rally could be on the horizon.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
