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Dogecoin (DOGE) Skyrockets 16% Daily as Analysts Set $1 Target

TL:DR; After the severe correction, Dogecoin has awakened by posting a double-digit surge, which drove it to a multi-week peak. The asset has closed down the gap to $0.4, but analysts continue to highlight $1 as a potential target during this bull cycle. DOGEUSD. Source: TradingView Shortly after Donald Trump won the US elections at the start of November, DOGE’s price went on a wild run due to Elon Musk’s upcoming role under the new administration and his rich history and support for the largest meme coin. The asset skyrocketed by triple digits within weeks and peaked at almost $0.5. However, it started to lose traction in December and plunged hard during the mid-month correction. In a matter of days, Dogecoin dumped from over $0.41 to $0.26. It reacted well after this substantial decline and pushed to $0.35 almost immediately. However, it failed to rally further and remained in a tight range of $0.31 and $0.34 for weeks. The landscape changed, though, for the entire market in the past few days. The situation around DOGE became particularly promising due to the larger number of coins accumulated by whales during this correction and consolidation phase. As such, it didn’t take long for the OG meme coin to surge in value. On a 24-hour scale alone, DOGE has shot up by 16% and now trades well above $0.39 after breaking above the $0.34 resistance. It’s up by 25% on a weekly scale and sits close to $0.4. Analysts have used this opportunity to double down on their $1 prediction for the asset, which is yet to be reached. Nevertheless, DOGE would need to more than double its current valuation to tap such a high price target. Nevertheless, it would be interesting to track Dogecoin’s performance in the following weeks, especially after Trump’s inauguration on January 20 and Musk’s D.O.G.E. department . This is $doge against btc Target $1 In the period 2015-2017 I doubled my bitcoin bags by buying doge low – waiting and selling it at least double the price. Groks tells me that in the 133 months Doge outperformed Bitcoin in 48 instances (36%). I’m betting on some crazy… pic.twitter.com/lRKbOZK6pQ — Tutor (@cryptotutor) January 3, 2025 The post Dogecoin (DOGE) Skyrockets 16% Daily as Analysts Set $1 Target appeared first on CryptoPotato . U.Today

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Bitcoin Peak Yet To Come: Analysts Share 2025 Bull Market Predictions

The market is recovering from the end-of-year bleeding that dragged most cryptocurrencies, including Bitcoin (BTC), to monthly lows. As the flagship crypto retests key levels, some analyst shared their predictions for the 2025 bull market and BTC’s performance. Related Reading: Solana-Based Pump.Fun Records $15 Million Daily Revenue As Memecoin Mania Continues Bitcoin Correction Close To An End? Over the last three days, Bitcoin has slowly climbed back to the $96,000 level, briefly trading near the $98,000 mark on Thursday afternoon. Last week, the flagship crypto lost this key range, failing to reclaim it for six days. This zone served as a crucial bounce point since mid-November. However, the New Year recovery sent BTC’s price up nearly 5%, with Bitcoin trading above $96,000 for the past day. Some crypto analysts previously suggested that reclaiming the $97,300 support zone is crucial to reverse BTC’s short-term bearish trend. This level was retested yesterday for the first time in over a week but failed to hold. Despite this, crypto analyst Rekt Capital noted that week 9 of its post-halving “Parabolic Upside Phase” is “slowly ending,” suggesting that BTC’s correction will likely be over soon. The analyst explained Bitcoin enters a parabolic period that lasts around 300 days each cycle after every Halving event. Historically, BTC registers the first major retrace a month after entering price discovery mode. The first “Price Discovery Correction” starts between Weeks 6 and 8 of each parabolic phase and sees pullbacks by at least 25%. This cycle, Bitcoin’s retrace started on Week 7 and saw a 15% correction, which some analysts suggest is due to the trend of smaller corrections. Rekt Capital stated that “once Bitcoin clears its historically corrective weeks,” the flagship crypto will offer plenty of reasons to be bullish. Similarly, the analyst pointed out that BTC’s peak will likely come this year, followed by the “very beginnings of a brand new bear market.” However, he explained that most of the bear market will occur next year, lasting “some 365+ days and be between -65% to -80% deep.” BTC To Perform Well In Q1 Daan crypto trades highlighted that Bitcoin has been “chopping around the $100K level for 6 weeks now, we’ve built up a good amount of liquidity in this area.” He added that from the $100,000 mark and above, “there should be plenty of fuel to propel this higher.” Moreover, the trader noted that BTC is “trading right around the high volume node. Meaning, most volume was traded between these prices. Generally, price moves easier when its able to break away from such a high volume area. The 4H 200MA is guarding that breaking on the top side. The 4H 200EMA below is offering support.” Related Reading: Bitcoin Retests $95,000 Amid 4.2% Surge, Is A New Year Rebound Coming? Daan asserted that a break above the $98,000 mark could “get the party started and start the run back to the all-time highs,” while holding the $95,000 support zone key in the short term. Ultimately, he considers there will be “an interesting race between BTC and ETH this quarter,” as the market’s performance during Q1 is usually “pretty positive.” Based on this historical performance, the trader expects the leading cryptocurrencies to perform well throughout the start of the year. As of this writing, Bitcoin is trading at $97,071, a 1% increase in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com U.Today