Dogecoin (DOGE) is one of the leading cryptocurrency meme tokens to exist in the space. The token is currently sitting at $0.25, down 2% in the last 24 hours. The token has long been vying for a top spot. Amid the current market volatility with Bitcoin sitting at $97K, Doge is putting all its strength to stay above the volatile waters. However, an expert believes DOGE’s mega rally is already on the cards for the token to take control of and bask in. Here’s how.
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Dogecoin on the Path to $0.40 and Beyond?
Dogecoin has had enough volatile experiences as of now. The token is currently sitting under bearish blues and is awaiting a tough price push that could help the token gain significant price momentum. In the middle of this, Cas Abbe, a leading crypto expert, has dropped his insights on Doge, adding how the token is primed for a “mega rally” in the near future.
Per Abbe, Dogecoin is already brewing a mega-bullish scenario, a price push that could help the token surge to $0.40 and beyond. However, the token may have to undergo a slight retest to $0.19 before it may sprint to touch and claim new price highs.
Abbe later shared how Doge is looking for a stellar price rally, indicated by a perfect rounding bottom pattern that the DOGE chart is forming as of late. He later shared how a weekly RSI approaching support trendline is also visible, adding more strength to the development.
“$DOGE looks primed for the next leg up—a perfect rounding bottom pattern. Weekly RSI is approaching the support trendline. I think one final dip towards $0.19-$0.20 followed by a mega rally is highly likely.”
$DOGE looks primed for the next leg up
– Perfect rounding bottom pattern
– Weekly RSI approaching support trendline
I think one final dip towards $0.19-$0.2 followed by a mega rally is highly likely pic.twitter.com/4hPXBTRgFc
— Cas Abbé (@cas_abbe) February 9, 2025
At the same time, Doge ETF development is also gaining momentum. If the US SEC greenlights DOGE ETFs or even considers the possibility of them launching in a regulated scenario, it could be catalytic for Dogecoin’s price, helping it claim new highs in the process.
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Technical Analysis Of The Token
Per CoinCodex, Dogecoin may first dip 9% to sit at the $0.22 price level.
“According to our current Dogecoin price prediction, the price of Dogecoin is predicted to drop by -9.56% and reach $ 0.223131 by March 10, 2025. Per our technical indicators, the current sentiment is bearish while the Fear & Greed Index is showing 44 (fear). Dogecoin recorded 12/30 (40%) green days with 12.14% price volatility over the last 30 days. Based on the Dogecoin forecast, it’s now a bad time to buy Dogecoin.”
However, the portal predicts how the token may ultimately hit $1 by May 2025.
“According to our current Dogecoin price prediction, the price of Dogecoin is predicted to rise by 332.61% and reach $ 1.067281 by May 9, 2025. Per our technical indicators, the current sentiment is bearish while the Fear & Greed Index is showing 44 (fear). Dogecoin recorded 12/30 (40%) green days with 12.14% price volatility over the last 30 days. Based on the Dogecoin forecast, it’s now a bad time to buy Dogecoin.”
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