Technical Analysis Points to Potential 180% Increase
The post Technical Analysis Points to Potential 180% Increase appeared on BitcoinEthereumNews.com. TLDR Dogecoin has surged 38% in May, its strongest monthly performance this year Technical analysts predict a potential 180% price rally, with targets at $0.65 and possibly $1 Strong buying volume dominance and on-chain metrics show high market demand Weekly MACD has shown a bullish crossover, historically preceding major breakouts Some analysts compare the current pattern to 2017’s cycle but see it moving at twice the speed Dogecoin has experienced a remarkable upward trend in recent weeks, generating excitement among cryptocurrency traders and investors. The popular meme cryptocurrency has seen its price increase by 38% in May alone, making it the strongest monthly performance for DOGE in 2025 so far. Trading volume for Dogecoin has been impressive. According to CoinGecko, DOGE recorded $4.7 billion in trading volume over a 24-hour period, ranking fifth among top cryptocurrencies when excluding stablecoins. Dogecoin Price on CoinGecko On-chain data shows strong market demand for the cryptocurrency. CryptoQuant reports that DOGE’s spot taker 90-day cumulative volume delta has been “taker buyer dominant,” indicating more aggressive buying than selling. This buying pattern was last observed in November 2024, which preceded a massive 385% rally that took DOGE to $0.48 in the fourth quarter of last year. Another positive indicator is the long-term holder net unrealized profit/loss (NUPL), which recently crossed above 0.5 for the first time since March 1, 2025. This metric suggests a shift to “belief” sentiment among long-term holders. When NUPL exceeds 0.5, it means most holders are in profit. This typically signals market confidence and reduces the likelihood of selling pressure, as investors may hold out for higher gains. Technical Analysis Points to Higher Prices Technical analysts have identified promising patterns on Dogecoin’s price charts. Anonymous analyst Trader Tardigrade noted a bullish setup on the DOGE/BTC trading pair that resembles a previous pattern…
The post Technical Analysis Points to Potential 180% Increase appeared on BitcoinEthereumNews.com.
TLDR Dogecoin has surged 38% in May, its strongest monthly performance this year Technical analysts predict a potential 180% price rally, with targets at $0.65 and possibly $1 Strong buying volume dominance and on-chain metrics show high market demand Weekly MACD has shown a bullish crossover, historically preceding major breakouts Some analysts compare the current pattern to 2017’s cycle but see it moving at twice the speed Dogecoin has experienced a remarkable upward trend in recent weeks, generating excitement among cryptocurrency traders and investors. The popular meme cryptocurrency has seen its price increase by 38% in May alone, making it the strongest monthly performance for DOGE in 2025 so far. Trading volume for Dogecoin has been impressive. According to CoinGecko, DOGE recorded $4.7 billion in trading volume over a 24-hour period, ranking fifth among top cryptocurrencies when excluding stablecoins. Dogecoin Price on CoinGecko On-chain data shows strong market demand for the cryptocurrency. CryptoQuant reports that DOGE’s spot taker 90-day cumulative volume delta has been “taker buyer dominant,” indicating more aggressive buying than selling. This buying pattern was last observed in November 2024, which preceded a massive 385% rally that took DOGE to $0.48 in the fourth quarter of last year. Another positive indicator is the long-term holder net unrealized profit/loss (NUPL), which recently crossed above 0.5 for the first time since March 1, 2025. This metric suggests a shift to “belief” sentiment among long-term holders. When NUPL exceeds 0.5, it means most holders are in profit. This typically signals market confidence and reduces the likelihood of selling pressure, as investors may hold out for higher gains. Technical Analysis Points to Higher Prices Technical analysts have identified promising patterns on Dogecoin’s price charts. Anonymous analyst Trader Tardigrade noted a bullish setup on the DOGE/BTC trading pair that resembles a previous pattern…
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