Could Dogecoin Continue Bullishness?
X posted a bullish Dogecoin analysis based on past pricing data. The previous bull cycle in 2021 saw DOGE rise 10,000%, according to the crypto pundit. Within 98 days, memecoin rose from $0.007 to $0.700.
DOGE's trading chart resembles the 2021 price explosion. Martinez predicts Dogecoin might reach $14.78 by May 2025 if it mirrors such strong bullish trend.
As said, Dogecoin positive emotions are strong, providing a good environment. The prospect of a Dogecoin Spot ETF drives this market optimism. Following the events of the last week, Bitwise has proposed a “Bitwise Dogecoin ETF” to the Division of Corporation, US Department of State, Delaware.
Dogecoin spot ETF might boost DOGE values to $15, according his latest projection. The Spot ETF, like Bitcoin, attracts institutional demand, which informs our estimates.
Dogecoin is at $0.354 at press time, up 1.72% in a day. Today's trade volume is down 30.09%, suggesting less investor activity. DOGE's 7-day chart shows a 11.43% loss, while its monthly data shows a 13.96% profit, indicating a favorable performance in recent weeks_
Short-term traders may see Dogecoin enter an upward consolidation period until early February, The market analyst advises bulls to avoid a price collapse since DOGE might go as low as $0.26.With a $52.43 billion market value, Dogecoin is the biggest memecoin and seventh-largest cryptocurrency.
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