Dogecoin price has risen by 43.4% in the past 24 hours, currently trading at $0.4050. This increase occurred after Bitcoin surged to a historic high of $89,561. Furthermore, the price surge has led to a breakout of a 3-year resistance level, which might allow Dogecoin to return to previous historical highs, or even higher, possibly reaching $1.8.
Bitcoin price skyrockets, Dogecoin price surges
As BTC price soars, Dogecoin's market cap currently reaches $53 billion, slightly below BNB (BNB). This is the highest price for Dogecoin in the past 3 years, only about 2 times away from the previous historical high. The next rise could allow this dog-themed meme coin to surpass BNB and Solana (SOL), becoming the fourth-largest cryptocurrency by market cap.
DOGE is the best performer among the top 10 cryptocurrencies (excluding stablecoins). It has increased by 252% in the last 30 days, followed by Cardano (ADA) with a 66% increase. XRP (XRP) has been the worst performer in the past month, with only a 12% rise.
Dogecoin is expected to rise further to ATH
After breaking the $0.35 resistance level, Dogecoin's price faces almost no obstacles. The path to previous historical highs is clear, and on-chain indicators support further upward movement. Coinglass data shows that the bullish value on Binance, OKX, and Bybit exceeds $320 million, while the bearish value is only $20 million. This imbalance indicates that bullish sentiment dominates the market, and Dogecoin could see a significant rise.
IntoTheBlock data shows that 95.25% of Dogecoin investors are profitable, with only 0.02% of investors at a loss, and 4.73% of investors breaking even. According to Coingecko data, Dogecoin's 24-hour trading volume has increased by 26%, and this figure may soon change, indicating that investors are still buying into the project.
Dogecoin is expected to reach a historical high of $1.8
Based on the current volatility of Dogecoin price trends, market observers predict that Dogecoin could soar above $1 by the end of this year. Dogecoin charts show a strong upward breakout during a long accumulation phase, breaking through major resistance levels around $0.23 and $0.35. The next major resistance level is around $0.7605, which was the peak level Dogecoin reached in 2021.
Dogecoin price prediction indicates that the asset may be entering an impulsive wave, potentially aiming for higher resistance levels in the next bullish phase. If this uptrend continues, it could push towards $0.76, which is the ultimate target of this wave.
