Top Trader Predicts Bullish 2025 for Dogecoin (DOGE)

by

As a seasoned analyst with over two decades of experience in the financial markets, I must admit that predicting the price action of meme cryptocurrencies like Dogecoin can be as unpredictable as a game of Russian roulette – with far more excitement!

Anonymously trading cryptocurrencies, a user known as Kaleo foresees a thrilling 2025 for the leading meme-based digital currency, Dogecoin.

According to the chartist’s analysis, the behavior of the meme cryptocurrency is expected to be quite uneventful for the coming months.

Currently, Dogecoin is being traded at approximately $0.09966, having dropped by 5.2% as per the latest data from CoinGecko.

The cryptocurrency is still down as much as 86.5% over the past 24 hours. 

Is a breakout possible? 

Earlier today, Ali, another pseudonymous cryptocurrency trader, has identified $0.11 as the key resistance level for Dogecoin. The bulls would need to target it in order to secure a convincing breakout. 

Based on data from analytics provider IntoTheBlock, approximately 23,400 wallets collectively possess around $31 billion in Dogecoin (DOGE) when its value reaches $0.11. This substantial amount of DOGE held at this level makes it a significant barrier for the popular meme coin, explaining why it holds such importance as resistance.

A Doge-related token surges 

Currently, the token known as First Neiro On Ethereum (NEIRO), which has ties to Dogecoin, saw a significant increase in value by over 100% after it was added to the Binance trading platform.

According to U.Today, Neiro is a Shiba Inu dog who shares lineage with Kabosu, the canine known for being the inspiration behind the popular Doge meme, which gained fame as a symbol of the crypto-currency, Dogecoin.

19-year-old Kabosu sadly passed away in May. Atsuko Sato, the proprietor of Dogecoin, has recently welcomed a new puppy named Neiro into her home. This new addition prompted several competing tokens to emerge on various blockchains. However, Ms. Sato swiftly made it clear that she is not associated with any Neiro-related tokens.

Read More

2024-09-16 21:56