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Dogecoin’s price is showing signs of a potential big jump, according to recent market analysis. The cryptocurrency, known for its Shiba Inu dog mascot, saw a 14% increase in its value over the past week.
Traders are watching closely as it approaches a key resistance level of $0.20. If it breaks past this point, some analysts predict it could reach $2, a tenfold increase from its current position.
Musk’s Social Media Influence
Elon Musk’s recent activity on social media is again a topic of discussion. He posted an image, styled like a Ghibli anime, featuring the Dogecoin pooch – clearly in reference to the movie The Lion King – instead of a lion cub. This kind of post from Musk has historically caused price surges.
Theme of the day pic.twitter.com/2ioG0StAxL
— Elon Musk (@elonmusk) March 26, 2025
People in the market are paying close attention to see if this pattern repeats. The daily trading volume for Dogecoin has gone over $2 billion. There’s also a rise in the amount of open futures contracts, which means more people are betting on its future price trajectory.
Chart Patterns Point Upward
Technical analysts have been looking at Dogecoin’s price charts for clues. One pattern, called a cup-and-handle, suggests the price could go up by ten times.
Coinglass data shows that DOGE futures open interest has climbed 4%, surpassing $2 billion, while 24-hour liquidations have jumped to $13.82 million.
I expect Dogecoin to rise 10X in total!
I know the way—join my Telegram channel!
📢 Tg: https://t.co/EeTzlid4ek#Doge $Doge #Memecoin pic.twitter.com/Cq0XRLdzxS
— @CryptoELlTES (@CryptooELITES) March 25, 2025
Crypto analyst CryptoELITES points out a cup-and-handle pattern, suggesting DOGE is on track to complete the formation and could see 10x gains.
Another analyst, Ali Martinez, uses the SuperTrend indicator. Breaking the $0.20 resistance could signal a strong upward trend. Some traders are even thinking it could go as high as $8, if it breaks a three-month trendline. That is a pretty big number.
Possible Price Stability
Right now, there’s talk about the price staying above $0.20 for the rest of April. People are watching to see if it consolidates at this level. This could set the stage for the predicted larger jump.
The market is very unpredictable. It is important to remember that a price increase of that size, 10 times the current value, is not a sure thing. The price of crypto can change quickly.
Social media posts can cause big swings in the market. While the technical analysis gives some support to the idea of a price rise, people should be careful. They should look at many sources of information before making any decisions about their money.
At the time of writing, Dogecoin was trading at $0.19, down nearly 5% in the last 24 hours, but sustained a 12.7% increase in the last week, data from Coingecko shows.
Featured image from Gemini Imagen, chart from TradingView
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
