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

Date: Fri, Oct 18, 2024, 05:45 PM GMT

The crypto market is shining as “Uptober” lives up to the hype, with Bitcoin (BTC) leading the charge. BTC is now trading above $68,000 and eyeing the crucial $70K mark. This surge has reignited momentum across the market, with new memecoins like GOAT, APU, and SPX enjoying solid gains. But the real king of memecoins—Dogecoin (DOGE)—is back in the spotlight, posting an impressive 13% gain in the past 24 hours.

A Bullish Revival After a Long Break

Dogecoin, known for its playful origins and massive fanbase, is finally showing signs of life after months of quiet trading. With today’s gains, DOGE now stands at $0.1450, boasting a market cap of $20.56 billion. This resurgence has crypto enthusiasts wondering: Is Dogecoin gearing up for another mega run?

Analyst Predicts a 2025 Mega Run

Crypto analyst @EtherNasyonaL believes that DOGE may be setting the stage for a massive rally, much like the historic bull runs of 2017 and 2021. In his latest analysis, he points out that Dogecoin seems to have completed one last bearish retest—a pattern similar to the setups seen before its previous explosive moves.

“Ahead of its 2017 and 2021 mega runs, DOGE made a similar retest of a major downtrend. It looks like we’ve just completed that phase again—setting the stage for the next big breakout in 2025.” — @EtherNasyonaL

This insight has sparked optimism among Dogecoin supporters, many of whom are eagerly anticipating a potential mega rally.

Current Market Standing

Dogecoin’s 13% surge today has positioned it as the top-performing memecoin within the top 100 cryptocurrencies.

The recent breakout and retest from its downtrend have propelled DOGE to the $0.14 mark, which serves as a key resistance level. If DOGE can break above $0.1450, it could target 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.