Dogecoin (DOGE) Gains Bullish Momentum: Is a Mega Run Ahead?

Date: Fri, Oct 18, 2024, 05:46 PM GMT

The cryptocurrency market is thriving, with Bitcoin (BTC) leading the charge. BTC is now trading above $68,000, nearing the $70K mark. This surge has boosted the entire market, with new memecoins like GOAT, APU, and SPX experiencing significant gains. However, Dogecoin (DOGE), the reigning champion among memecoins, has re-emerged, posting an impressive 13% gain in the past 24 hours.

Source: Coinmarketcap

Dogecoin's Resurgence after a Hiatus

Dogecoin, known for its lighthearted origins and dedicated fanbase, has finally revived after a period of subdued trading. With today's surge, DOGE stands at $0.1450, with a market cap of $20.56 billion. This resurgence has sparked speculation among crypto enthusiasts about a potential mega run for Dogecoin.

Analyst Predicts a Mega Run in 2025

Crypto analyst @EtherNasyonaL believes that DOGE could be poised for a significant rally, akin to its historic bull runs in 2017 and 2021. In his analysis, he highlights that Dogecoin may have completed a bearish retest, a pattern typically observed before explosive moves.

Source: @EtherNasyonaL

"Before its 2017 and 2021 mega runs, DOGE had similar retests. We may have completed that phase, paving the way for the next breakout in 2025." - @EtherNasyonaL

This analysis has instilled optimism in Dogecoin supporters, who eagerly anticipate a potential mega rally.

Current Market Position

Dogecoin's 13% surge today has made it the top-performing memecoin among the top 100 cryptocurrencies.

Source: @AltstreetBet

The breakout from its downtrend has pushed DOGE to the $0.14 mark, a key resistance level. If DOGE突破$0.1450, it could challenge the next resistance levels at $0.1654 and $0.1744, potentially setting the stage for further gains.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making any investment decisions.