Dogecoin has just broken the long-term technical pattern and attracted $500 million in capital from institutions, setting the stage for a strong price surge that could reach the $1 milestone.
This event marks an important advance with increased buying power, while expectations remain for the Dogecoin ETF to be approved in 2025, opening up growth opportunities and wider adoption for this cryptocurrency.
MAIN CONTENT
Dogecoin breaks out of the symmetrical triangle pattern after nearly 10 months of accumulation, opening up a new bullish trend.
Bit Origin commits to investing $500 million to implement the Dogecoin treasury strategy, enhancing the potential for ecosystem development.
Expectations for the Dogecoin ETF approval with odds of up to 80% will drive institutional capital flows and increase liquidity.
Dogecoin breaks the symmetrical triangle pattern, could this be the beginning of a new bull run?
Technical and market analysts believe that after nearly 10 months within the symmetrical triangle pattern, Dogecoin has officially broken the resistance level, opening a recovery phase for this coin. On July 18, DOGE rose 14%, trading around $0.248, and has recorded a 23% increase over the past week – the strongest weekly gain in several months.
Technical indicators such as RSI climbing above 50 indicate that buying pressure is increasing, while the AO indicator has also turned green despite not exceeding 0, signaling that selling pressure is gradually weakening. According to analysts, if the breakout continues following the height of the triangle, DOGE could surge up to 380%, reaching the highly anticipated target of $1.
"Dogecoin is preparing for a big jump back, targeting the range of $0.28–$0.30 and even further to $1 in the near future."
Kevin, cryptocurrency analyst, 2024
Bit Origin's $500 million investment strongly pushes Dogecoin to new heights?
Bit Origin, a cryptocurrency company listed on Nasdaq, has just announced a $500 million investment strategy in Dogecoin, part of which will be used to accumulate DOGE while the rest supports ecosystem development. This is the financial motivation for the aforementioned technical breakout and signals growing interest from institutional investors.
In a recent trading session, Dogecoin surpassed the important resistance level of $0.23. If the buying momentum continues, the next price levels to watch are $0.28 and $0.30 – technical resistance points that could test the strength of the trend.
What is the market expecting from the Dogecoin ETF and its impact on the price?
Excitement over the possibility of a Dogecoin ETF being approved is rapidly increasing, with the probability rate according to Polymarket reaching 80%. The final decision from the SEC is expected to be announced in September 2025. ETF investments have previously created price milestones for Bitcoin and Ethereum, and many experts believe that Dogecoin will leverage this boost to attract new capital and enhance liquidity in the cryptocurrency market.
"The approval of the ETF will be a significant boost that brings Dogecoin closer to widespread acceptance and could greatly benefit from it."
Head of Research at CryptoInsights Financial Group, 2024
What is the mid-term price outlook for Dogecoin according to analysts?
Kevin (@Kev_Capital_TA) – a well-known cryptocurrency analyst, posted a chart showing that Dogecoin has broken the long-term support line and predicts that DOGE will soon conquer the price range of $0.28–$0.30, then go even further. He notes that the repeated testing of this resistance level is like a "gunshot" signaling a positive turning point before DOGE surges strongly.
Moreover, with Bitcoin's strength if maintained, Dogecoin could be preparing for a superior price surge amid a consolidated cryptocurrency market.
FREQUENTLY ASKED QUESTIONS
What technical pattern has Dogecoin broken and what does it mean?
Dogecoin has just broken the symmetrical triangle pattern that lasted nearly 10 months, which is a strong technical signal for the next bullish trend with the potential of up to 380%.
How will Bit Origin's $500 million investment be utilized?
This capital is allocated for purchasing Dogecoin for accumulation and supporting ecosystem development, enhancing the coin's strength and appeal to institutional investors.
Does the expectation of a Dogecoin ETF truly contribute to price increases?
The approval of the ETF typically improves liquidity and attracts new capital flows, which are positive factors supporting the overall growth of Dogecoin's price.
How much will DOGE's price increase in the near future according to experts?
Analyst Kevin predicts that DOGE's surge will first reach the price range of $0.28–$0.30, and then could increase further based on technical support and market strength.
What is the current price range of Dogecoin?
Dogecoin is trading around $0.248 (as of July 18, 2024) with strong growth momentum in the past week.
Source: https://tintucbitcoin.com/token-tang-380-sap-cham-1-usd/
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