Dogecoin to $1? Traders say the 140% DOGE rally could happen before February
The price of Dogecoin (DOGE) increased by 10% on January 10, reaching a high of $0.42 on the one-day chart. A candle close above $0.40 indicates a strong trend reversal for memecoin, which has consolidated between $0.45 and $0.30 since November 11th.
Dogecoin 1-day chart. Source: Cointelegraph/TradingView
With the crypto market picking up steam ahead of President-elect Donald Trump's return to the White House, traders are expecting another bullish signal for DOGE next week.
DOGE is the strongest “dino” coin after Bitcoin and XRP.
Daan Crypto, a crypto trader and investor, highlighted that DOGE's recent price difference between $0.30 and $0.33 is the result of two accumulated periods. In the year In early 2025, DOGE recorded a swing failure pattern (SFP), pushing the price back below $0.40.
Dogecoin analysis by Daan Crypto. Source: X.com
However, the recent test and recovery above $0.35 has established a solid foundation for Dogecoin to rally further. And the merchant said thus.
“While $BTC, $ETH and many others have made new lows this week, DOGE has been stronger than most coins in this second flow, trading with the surrounding range, making good lows.”
Additionally, the analyst believes DOGE has the strongest case as a “dino” coin after BTC and XRP. Dino or Normi is a term that is highly focused when assets like XRP (XRP), Hedera (HBAR), Cardano (ADA), Stellar (XLM), etc. start to attract better than new narratives in late 2024 bull market. Symbols. Dogecoin achieved a similar gain of 222% in two weeks in November 2024.
Sentiment data showed $200 million worth of buying from DOGE whales over the past 48 hours, so market interest is starting to flood again.
The classification of DOGE whales increases. Source: X.com
Related: Why Has Dogecoin (DOGE) Priced Up Today?
There is a 60% chance that DOGE will hit $1 before February.
With markets brewing, WSB Trader, an anonymous crypto commentator, said memecoin has a more than 60% chance of hitting $1 before the end of January. The businessman added:
“Don't confuse Elon Musk, the richest man on the planet, and Donald Trump, the most powerful US president on the planet.”
Similarly, Johnny, a crypto investor, told his 785K followers that retail trading on DOGE could have the same effect as they did on XRP. The investor believed that once memecoin started trending, it would turn “hard again” and hit the psychological level of $1.
Dogecoin 3-Day Chart Analysis by Mikubul Source: X.com
Mikibul, a technical analyst, shared a similar view after the crypto asset breached the bullish sentiment, as mentioned above. A similar price target of $1 is expected following a breakout of the pattern.
Related: XRP 2017 Playbook Hints 100% Rally Against Bitcoin Through March
This article is not intended for general information purposes and should not be construed as legal or investment advice. The views, ideas and opinions expressed herein are solely those of the author and do not necessarily represent the views and opinions of Cointelegraph.
