3 Key Factors for the Dogecoin Surge
The Dogecoin (DOGE), the most popular meme coin, could be on the verge of a major bullish breakthrough. Three technical factors, flow and institutional investor activity, seem to be aligning to fuel a significant price increase in the coming months.
On the chart, Dogecoin is showing encouraging signs. Since its April low, DOGE has already surged by 75%, reaching $0.228. On the daily chart, the price is now approaching a potential bullish breakout, forming what appears to be a bullish flag. This technical pattern, characterized by a vertical rally followed by a consolidation phase, is generally associated with a continuation of the positive trend.
Furthermore, DOGE is set to form a “mini golden cross”, with the reversal of the difference between the 50 and 100-day exponential moving averages. These technical patterns suggest an aggressive breakout once the flag formation is resolved, with a key resistance to watch at $0.4815. Breaking above this level would present a potential 110% upside from current levels. However, a drop below the psychological support at $0.20 would invalidate this bullish outlook.
A bearish divergence in the RSI and other indicators urge caution in the coming weeks. Indeed, Bitcoin and the crypto market have seen several weeks of uninterrupted gains. The probabilities of retracements increase daily.
Moreover, the DOGE flag could be used by smart money to “distribute” one last time before the retracement. If this bearish scenario materializes, DOGE could target its Point of Control at $0.17. This area should act as a strong support and provide a prime opportunity to jump on DOGE before its surge in 2025.
Therefore, it will be crucial to monitor DOGE between $0.25 and $0.27 if it regains these levels in the coming days.
Essential Catalysts
The positive funding rate of Dogecoin is also a crucial element. In perpetual futures markets, a positive funding rate means that long position holders pay fees to short sellers. This reflects a bullish market expectation and typically fuels an upward trend.
Whales Continue to Accumulate DOGE
Lastly, data shows that large institutional investors continue to accumulate Dogecoin massively. According to Santiment, addresses holding between 100 million and 1 billion DOGE now control over 26.46 billion tokens, a level not seen since December 2023. Their holdings are significantly increasing, up from 23 billion in January.
This accumulation trend is reinforced by sustained outflows from exchanges since November 2023, totaling over $695 million since April. This movement of liquidity off platforms is generally seen as a long-term bullish signal.
In conclusion, Dogecoin appears to have all the ingredients for a potential significant price surge in the coming months. Technical signals, positive funding flows, and accumulation by institutional whales all contribute to a substantial price increase, potentially up to 110% above current levels. Investors and traders should closely monitor these developments to best capitalize on this opportunity.
How to Buy Dogecoin on Bitget ?
Here is a simple and quick guide to buying Dogecoin (DOGE) on Bitget in a few steps:
- Create a Bitget account
Go to the official Bitget website or download the mobile app (available on iOS and Android). Sign up using your email address or phone number, create a secure password, and verify your account with the sent verification code. - Verify your identity (KYC)
Access the “Verification” section in your profile. Submit a valid identification document (passport, ID card) and, if required, perform a facial verification. Validation is usually quick, often within a few hours. - Fund your account
Click on “Buy Crypto” or “Deposit” in the interface. You can add funds in fiat currency (EUR, USD, etc.) via credit card, SEPA transfer, Google Pay, or Apple Pay, or deposit a cryptocurrency like USDT or BTC from another wallet. - Buy DOGE
Go to the “Buy Crypto” section for a direct purchase or “Spot Trading” for more options. Select the DOGE/USDT pair (or DOGE/USD if available). Enter the amount to invest and confirm the purchase. For a quick purchase, the “Third-party” option allows direct fiat purchases.
