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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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Dogecoin to $1? Traders Say DOGE Price Surge Could Happen Before February
Dogecoin increased by 10% on January 17, reaching a high of $0.42 on the daily chart. A candle closing above $0.40 will signal a strong reversal trend for memecoins, which have been consolidating between $0.45 and $0.30 since November 11th.
As the cryptocurrency market accelerates ahead of the imminent return of President-elect Donald Trump to the White House, traders expect DOGE to have another breakout next week. DOGE is the strongest "dinosaur" currency after Bitcoin and XRP Daan Crypto, an investor and cryptocurrency trader, emphasizes that the recent price increase of DOGE is the result of two accumulation phases between $0.30 and $0.33. In early 2025, DOGE experienced a failed swing failure pattern (SFP), pushing the price below $0.40 once again.
However, the recent retesting and recovery at the $0.35 level has provided a solid foundation for Dogecoin to further increase in price. Traders say, "This price has remained higher than most other currencies in this second price increase, in which $BTC, $ETH, and many other currencies have reached new lows in this week's price increase, DOGE has reached higher lows and is trading back within its local range." In addition, analysts believe that DOGE has the strongest case as the "dinosaur" currency after BTC and XRP. Dino or normie is a term that gained attention in late 2024 when cryptocurrencies like XRP, Hedera, Cardano, Stellar... started to outperform newer narrative tokens. Dogecoin achieved a similar breakthrough of 222% in two weeks in November 2024. Market attention is starting to surge again as data from Santiment highlights a $200 million buying transaction from a DOGE whale in the past 48 hours.
There is a 60% chance that DOGE will reach $1 before February. With clear momentum forming in the market, WSB Trader, an anonymous cryptocurrency commentator, said that memecoin has more than a 60% chance of reaching $1 before the end of January. The trader added, "Don't forget the richest man on the planet, Elon Musk, and the most powerful man on the planet, President of the United States Donald Trump." Similarly, Johnny, a cryptocurrency investor, told his 785 thousand followers that retail could have a similar impact on DOGE as they did with XRP. The investor believes that once a memecoin starts trending, it will have a strong "comeback" and reach the psychological level of $1.
Mikybull, a technical analyst, also shares similar prospects after the cryptocurrency asset breaks a bullish flag, as illustrated above. The similar price target is expected to be $1 after the breakout pattern.