Dogecoin (DOGE) is about to skyrocket? Historical signals suggest a potential surge of 12,000%
Dogecoin (DOGE) address activity has surged recently, increasing by 111%, attracting market attention to a potential large-scale rebound. Historical trends show that as whale trading increases, the price of DOGE is expected to break through again, possibly rising as much as 12,000%.
Dogecoin has consistently shown significant cyclical volatility, having risen 212% in 2017 before a 40% pullback, followed by a surge of 5,000%. In 2021, DOGE rose by 476%, retraced by 56%, and then experienced a 12,000% explosion.
In 2024, DOGE has also exhibited a similar pattern, climbing from $0.065 to $0.39547, retracing by 46%, but this repetitive trend suggests another strong rebound may be on the horizon.
Currently, DOGE is trading at $0.3167, down 1.43% in the past 24 hours and down 21.23% over the past week. The market cap is $46.66 billion, with a 24-hour trading volume of $4.37 billion.
DOGE is still within its long-term logarithmic price channel, with support levels between $0.065 and $0.19-$0.20, while resistance is at $0.39547 and the historical high of $0.73665 in 2021. If DOGE maintains its historical upward trend, analysts predict its potential upper limit could reach $17.94.
According to IntoTheBlock data, Dogecoin’s network activity shows significant growth. As of November 11, the total number of active addresses was 136,850, with 58,990 new addresses, and active addresses grew by 111.32% over the past week.
This closely aligns with DOGE's price increase from $0.065 to $0.39547, indicating that interest from retail and institutional investors is recovering.
