Could Dogecoin Experience Another 50% Increase? (Expert Opinion)

The original meme coin, Dogecoin, has recovered from its recent dip and is valued above $0.24. An analyst highlights a potential 50% increase, with the next major resistance at $0.36. To reach this, Dogecoin would have to exceed its weekly price rise which saw a 40% jump.

Despite a recent correction that took it below $0.22, Dogecoin has rebounded and is currently valued at $0.245. Additionally, Glassnode reported a 64% surge in DOGE Futures Open Interest in the past week, exceeding $1.6 billion. This increase in open short and long leveraged positions during price pullbacks suggests traders are maintaining speculative positions, potentially leading to increased volatility when the market makes a decisive move.