Dogecoin could reach $15 in the near future. Cryptocurrency trading experts predict that Dogecoin’s technical indicators suggest that the meme coin is growing rapidly and could grow by 4,000%. In particular, Ari Martinez noted that Dogecoin is trading within a bull market multi-year ascending channel, which would allow the coin to potentially reach $15 in the coming months.
Typically, this model indicates that the price is in a steady upward trend, forming higher highs and higher lows. Since 2017, the Dogecoin price has been steadily remaining between the levels of the support and resistance channel.
The upper boundary of the channel suggests that if the formation is successful, Dogecoin could reach $15. This would give Dogecoin a market cap of $2.23 trillion, provided that the supply remains constant, which could make it the leading cryptocurrency - in the event of minimal growth in Bitcoin.
Trader Tardigrade’s analysis highlights the possibility of further growth for Dogecoin, noting that the asset still has room to grow in the current bull market as it seeks to break through the critical resistance of $1.
The possibility of Dogecoin reaching this ambitious level is also supported by the growth of trust from “whale” investors. In 24 hours, 588 transactions totaling more than $1 million were recorded on the Dogecoin network, which were completed by whales. Historical data shows that such transactions often indicate potential price breakouts. When whales gather in large numbers, it usually indicates a significant increase in price.
The recent return of President Donald Trump and close ties with Tesla CEO Elon Musk, a well-known Dogecoin promoter, have intensified the Dogecoin craze. The craze stems from the fact that Musk will lead the Department of Government Efficiency (D.O.G.E.).
In this case, the enthusiasm has been further enhanced after the [DOGE] logo appeared on the official Dogecoin website.
There is also speculation that institutional capital may flow into Dogecoin, which occurred after Rex-Osprey filed several ETF creation applications aimed at memecoin, Dogecoin, TRUMP and BONK, a prospect that has stimulated the development of spot trading funds related to them.
If these ETFs are approved, they may attract new institutional capital, potentially repeating the success of similar Bitcoin products.
