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Highlights
- Dogecoin price trades at $0.329, eyeing a breakout above $0.35 resistance.
- ETF speculation boosts investor sentiment, fueling Dogecoin's bullish momentum.
- Historical cycles suggest DOGE could surge if market trends align.
Dogecoin (DOGE) continues to range below $0.35 as the crypto market rebounds post-FOMC. With Bitcoin attempting to overcome $105K, there is a good chance altcoins, including DOGE, will also shoot higher. With renewed bullish momentum, let’s discover how high the Dogecoin price can go in February 2025.
How High Can Dogecoin Price Rally in February?
Although DOGE and altcoins have suffered a steep correction in the past few weeks, there hope for recovery. Like many cryptocurrencies, Dogecoin price is still 55% below its May 2021 ATH of $0.7376. With markets turning over a new leaf, now could be the right time to buy before DOGE revisit its all-time high, according to an analyst.
The analyst posted the below chart and noted,
“A new all-time high on $DOGE is imminent now!“
The chart also notes how Dogecoin price went parabolic after it overcame the 2018 ATH, suggesting that a similar outlook may unfold this time as well. Hence, DOGE could easily hit ATH in February 2025 if history repeats.
While the analyst is forecasting an explosive move for Dogecoin price, the recently filed DOGE ETF has helped boost the sentiment of this dog-based crypto. Bitwise, a popular asset management company’s filings and the change in the crypto regulatory outlook suggest that a spot ETF for Dogecoin could be possible in the near future.
DOGE Momentum Grows Amid ETF Speculation
Dogecoin’s resurgence is drawing attention as the number of whale investors increases. Excitement is building around Bitwise’s recent filing for a spot in Dogecoin ETF, which could redefine meme coin adoption.
If approved, this ETF may significantly impact DOGE’s market trajectory, fueling optimism among investors and traders.
JUST IN: 🇺🇸 Bitwise files for spot Dogecoin $DOGE ETF.
— Watcher.Guru (@WatcherGuru) January 28, 2025
Strategic Levels to Watch as Dogecoin Price Prepares For Breakout
Another crypto analyst is forecasting that the third Dogecoin price cycle is yet to begin. Based on the expert’s analysis, DOGE is consolidating above the inclined trend line after a breakout and is primed for a breakout.
If history repeats, then the first strategic level to watch includes $1, and following this is $1.5. These are key psychological levels where investors are likely to bok profits. After these levels are attainted, Dogecoin price is likely to move sideways, based on the history, before restarting its exponential rally to $5.
Another Dogecoin price fractal also hints that an DOGE could easily hit its all-time high in February 2025 if history repeats. In fact, these outlooks also indicate that this top meme coin could hit a new ATH.
DOGE Price Analysis
The latest DOGE price is $0.329, reflecting a 0.42% decline over the past day. The meme coin continues to trade within a well-defined range, facing resistance near $0.35 and support at $0.32.
The Relative Strength Index (RSI) is 47, hovering below the neutral 50 level. The Dogecoin price forecast has struggled to maintain momentum above the $0.35 resistance zone. A successful breakout could pave the way for further gains toward the $0.40 mark.
However, failure to surpass this level might lead to another pullback, potentially testing the $0.32 support. If bearish sentiment intensifies, DOGE could dip toward the psychological $0.30 level.
To sum up, the Dogecoin price trajectory depends on breaking key resistance levels and sustaining bullish momentum. Market sentiment, ETF speculation, and historical cycles may influence a potential rally toward its ATH.
Frequently Asked Questions (FAQs)
1. Will Dogecoin reach its all-time high in February 2025?
2. How does Bitcoin’s performance impact Dogecoin?
3. What role does ETF speculation play in Dogecoin’s price?
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