Dogecoin (DOGE) could be on the verge of a major rally, with analysts eyeing a potential surge to $10. Despite recent market volatility, DOGE has maintained key support levels, fueling optimism among traders. While the other tokes struggle to recover, bullish sentiment around Dogecoin price persists, with investors closely watching resistance levels for confirmation of an uptrend.
Massive Dogecoin Price Hints $10 Target
Crypto Trader has suggested that the Dogecoin price may still have room for upward movement before reaching its peak. According to a recent post on X , the analyst highlighted a key Relative Strength Index (RSI) retracement on the two-week chart, indicating that Dogecoin has not yet triggered a topping-out signal.
The historical pattern suggests that a market top tends to follow when the RSI reaches a specific overbought level. However, the latest analysis implies that Dogecoin has not yet hit that threshold, leaving further gains possible.
The analyst compares previous market cycles, showing that Dogecoin experienced substantial rallies before the RSI signaled a peak. The pattern appears to be repeating, with the RSI currently retracing but not yet reaching the extreme levels observed in prior topping signals.
If history follows a similar trajectory, Dogecoin could continue its bullish momentum to $10 before encountering a significant correction.
Will Dogecoin Recover?
Dogecoin price has entered a strong bearish cycle, dropping from its December peak of $0.4845 to a low of $0.265. Despite this downturn, analysts suggest potential catalysts could drive a future rebound. A BTC nears $100k may trigger renewed momentum across altcoins, including DOGE.
Additionally, speculation is growing over the possibility of a spot Dogecoin ETF gaining regulatory approval. This, combined with increased whale accumulation and rising meme coin enthusiasm, could fuel a strong recovery. Market sentiment suggests these factors may help Dogecoin regain strength, though broader crypto trends will determine its trajectory in the coming months.
Short Term DOGE Technical Analysis
As of February 17, the DOGE value is $0.265, reflecting a 0.73% increase over the past 24-hours. The meme coin is showing resilience, holding above the key support level of $0.25 despite market fluctuations.
The MACD histogram is trending downward, indicating that bearish momentum remains. The MACD line remains slightly below the signal line, a potential warning of further consolidation before a breakout.
The Relative Strength Index (RSI) on the 4-hour chart stands at 47, hovering near the neutral zone. The primary support zone is at $0.25, which has held firm against selling pressure. A break below this level could lead to a retest of $0.20. If this resistance breaks, The Dogecoin price prediction could aim for $0.35 and eventually $0.40.
Market optimism together with strong technical indicators could drive the Dogecoin price to reach $10 until a top signal appears. Several analysis specialists observe optimistic market signals which indicate Dogecoin may experience additional gains before experiencing a price drop.
The post Dogecoin Price Could Explode to $10 Before DOGE Top Signal Appears appeared first on CoinGape.
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