Dogecoin (DOGE) jumped about 30% in a week to nearly $0.09, reaching an almost three-month high as analysts debated whether the rally can extend further.
Key Points:
- Dogecoin gained roughly 30% in one week and moved to just below $0.09.
- Analyst Ali Martinez sees $0.177 as the next target after DOGE cleared $0.0813 resistance.
- Exchange inflows have topped outflows, creating a potential short-term selling risk.
Dogecoin Price Rally
Dogecoin was trading just south of $0.09 after gaining roughly 30% over seven days. The move pushed the meme coin to its highest level in nearly three months and lifted its market capitalization close to $14 billion.
Dogecoin also widened its market-value lead over Shiba Inu (SHIB), reinforcing its position as the largest meme coin. The rally followed a break above $0.0813, a level where more than 30 million DOGE had previously changed hands.
Ali Martinez had identified that price as key resistance and said a sustained close above it could open a path toward $0.177. He also pointed to whale accumulation and a buy signal from the Tom DeMark Sequential indicator as factors supporting further upside.
Also Read: Solana Hits Record 4.2B Transactions With SOL Back Above $100
Martinez Price Targets
Other analysts are calling for much larger gains, although those forecasts require far more aggressive assumptions. MikybullCrypto said an “explosive move on the horizon” could send DOGE to $3, while Vuori Trading said the token is “most likely going to $10.”
A move to $10 would push Dogecoin’s market capitalization above $1.5 trillion, making that scenario difficult to reconcile with its current valuation.
The more immediate risk is a correction, because DOGE inflows to centralized exchanges have exceeded outflows in recent days, potentially adding near-term selling pressure.
About a week before the rally, The Great Mattsby highlighted unusually tight Dogecoin Bollinger Bands and questioned whether the setup was the asset’s largest squeeze on record. That compression was followed by the current 30% advance, taking DOGE from a low-volatility setup to its strongest price level in almost three months.
Read Next: Grayscale Lists Zcash ETF On NYSE Arca With A 2.5% Annual Fee
