Dogecoin Price Set to Hit $1: Investor Sentiment, Whale Activity, and More

Dogecoin (DOGE) is creating excitement in the crypto world as it remains a favorite among retail traders. Recently, actions from large investors, have raised hopes for a big price increase. Meanwhile, top crypto analysts believe & current market indicators believe Dogecoin could reach $0.37 in the short term and even touch $1 in the long run.

Keep reading to discover the latest insights, expert predictions, and market trends that are driving Dogecoin’s momentum.

Where Is Doge Price Headed?

In the past week, Dogecoin has seen a remarkable 22% increase, with its 24-hour trading volume rising to $1.9 billion—up 35%. Currently, Dogecoin trades around $0.14, reflecting a 3% gain in the last 24 hours.

Recent data from Coinglass shows a fascinating divide in trader sentiment. While short-term futures traders are turning bearish, long-term traders remain optimistic. This suggests that many investors believe DOGE’s price will soon rise.

Holder Profitability Soars

A key indicator of Dogecoin’s potential is its holder profitability, which has recently reached a four-month high. Currently, an impressive 81% of all circulating DOGE is in profit, a situation not seen since July 7, 2024.

Interestingly, short-term holders—those who have held for 30 days—have now outpaced long-term holders—those who have held for 365 days—in terms of profitability. This shift may indicate a strategy change to lock in gains.

Bullish Predictions

Beyond the positive short-term outlook, analysts are also hopeful about Dogecoin’s long-term future. Notably, crypto trader Crow recently compared Dogecoin to Bitcoin, suggesting it could eventually break the $1 mark.

This bullish sentiment is reinforced by recent whale activity; one investor bought 155.11 million DOGE, valued at $21.65 million, through Robinhood Markets. Such a large purchase indicates growing confidence in Dogecoin’s potential.

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Dogecoin Price Analysis

Analyzing the price trends, Dogecoin has been on a bullish path lately. Meanwhile, the rising 50-day moving average indicates strong short-term momentum. However, some bearish sentiment remains, as the Fibonacci retracement tool suggests a potential dip to around $0.1322.

If the upward trend continues, analysts believe Dogecoin’s price could rebound and surge toward the $0.37 target, with key levels to watch at $0.18, $0.23, and $0.29 over the next two weeks.

What are your thoughts on Dogecoin’s potential? Will it soar to $1 or dip back down?