Dogecoin bullish signals sound the alarm, can DOGE trigger a wave of retaliatory rebounds?
DOGE's open interest skyrocketed by 5.38%, breaking through the $2 billion mark, and market enthusiasm surged instantly. Its price rebounded nearly 20% from a low of $0.2685 earlier this week, effectively setting up a 'springboard' for a subsequent parabolic rise.
As of the time of writing, Dogecoin has risen another 2% to $0.32, with its market cap rising to over $47 billion. Last week, the Federal Reserve’s hawkish turn drastically reduced the expectations for interest rate cuts in 2025, resulting in widespread distress in the crypto market, and Dogecoin was no exception, ending the week with a 20% loss. However, in my view, the dawn of a Dogecoin rebound is already visible.
The TD Sequential indicator on the daily chart for DOGE has triggered a buy signal, suggesting that its price may experience a reversal.
This buy signal from the tool for DOGE perfectly aligns with my previous analysis, indicating a high probability that DOGE will embark on a parabolic rebound journey, undoubtedly adding a highly optimistic hue to the market's outlook on this meme coin, and giving investors greater anticipation and longing for its future performance.
Upon examining Dogecoin's historical price trajectory, this meme coin might stir up another surge. Looking back at past parabolic trends, in 2017, DOGE soared by 212%, followed by a 40% correction, and then initiated a staggering 5000% rise; in 2021, after a 476% increase, there was a 56% retracement, before astonishingly achieving a 12000% increase; by 2024, it had already gained 440%, with a 46% retracement. If history repeats itself, the next explosion is just around the corner! According to the chart, DOGE is expected to challenge a high of $18.
At this moment, Dogecoin's open interest is strongly climbing, with a 5.38% increase helping it break through the $2 billion ceiling.
How much energy does Elon Musk have to assist Dogecoin in reaching the historic milestone of $1?
Especially with Donald Trump's term about to begin and Musk taking on the role of co-chairman of the DOGE organization, the situation is filled with uncertainties, sparking much discussion in the market.