Dogecoin Price Prediction: Trader Sees Big DOGE Rally Coming – Here’s Why

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dogecoin price prediction

Dogecoin (DOGE) continues to be one of this year’s biggest losers among top tokens, as the meme coin has shed 57% of its value since the year started.

Meme coins were not favored by the latest (brief) altseason, as DOGE failed to make any meaningful highs during that period. In contrast, Ethereum (ETH) and BNB Coin (BNB) both made new all-time highs, while Solana (SOL) rose to above $200.

In the past 24 hours, Dogecoin has tanked by nearly 10% and is currently tagging a critical support area at $0.14.

Trading volumes have spiked by 132% to $1.6 billion, a figure that accounts for 8% of the asset’s circulating market cap.

A popular trader named Alan Tardigrade revealed a historical pattern in the monthly chart that has resulted in a strong recovery for DOGE right after it pops up.

This pattern unfolded in 2017 and 2021, as Dogecoin (DOGE) dipped below a key monthly trend line support. This turned out to be a bear trap that ultimately squeezed short sellers out and pushed DOGE to new all-time highs shortly around a year after.

The November red candle just confirmed the bearish breakout. Hence, December must be a good month for DOGE to confirm this pattern’s bullish bias. If the price keeps dipping and closes the last month of this year at a loss, it would invalidate the setup.

Dogecoin Price Prediction: DOGE Breaks Key Supports and Faces Big Drop

Dogecoin has closed with losses 5 of the past 6 weeks and is now trading below its 200-week exponential moving average (EMA), emphasizing the strength of this downturn.

dogecoin price chart

The price broke below a key trend line support that had been forming since August 2024. The $0.13 level is the token’s last line of defense. If it loses that threshold, the market could dive to $0.09 in the next few months. That means a 33% downside risk.

The Relative Strength Index (RSI) has dropped below the 14-week moving, meaning that negative momentum is accelerating.

All technical indicators are favoring a bearish Dogecoin price prediction for the top meme coin at a point when investors are in panic mode.

If Tardigrade’s thesis plays out as expected, the price would have to recapture the $0.20 area in the next few days to pull off a bear trap and squeeze short sellers out. Short squeezes force traders to cover their positions by buying the underlying asset and can result in explosive upward moves.

As meme coins struggle to make it back to the top, top crypto presales could deliver big gains to early buyers.

Projects like Maxi Doge ($MAXI) are still flying below the market’s radar, and investors’ interest seems to be rising as reflected by the $4 million this token has raised in a relatively short period.

Maxi Doge ($MAXI) Powers a High-Energy Meme Trading Community

Maxi Doge ($MAXI) takes the familiar Doge meme and turns it into a token that embodies bull markets’ energy. This meme coin aims to build a community for crypto degens who love high-risk/high-reward plays.

maxi doge crypto presale

This isn’t a utility-heavy project or a slow-burning DeFi tool – it’s a meme token built around community, competition, and the thrill of trading.

Holding $MAXI gives you access to a vibrant hub where retail traders share ideas, strategies, and high-risk plays.

The project also adds a layer of gamification by introducing weekly trading contests and themed challenges like Max Gains and Max Ripped, where top performers can earn rewards and climb the leaderboard.

$MAXI is easy to hold and stake. Token holders can earn an annual percentage yield (APY) of 73% at the time by locking up their assets until the presale ends.

To buy $MAXI and join the pump, simply head to the official Maxi Doge website and connect your wallet. You can either swap USDT or ETH for this token or use a bank card instead.

By Alejandro Arrieche

Alejandro is a seasoned financial analyst with over seven years of experience writing complex business topics and market trends. His insightful work has been featured in prominent publications including CryptoBites, The Modest Wallet, and Capital.com, where he provides comprehensive analysis spanning from broad business strategy to complex topics about cryptocurrencies and the stock market. A graduate of EUDE Business School, Alejandro leverages his academic background and analytical expertise to deliver data-driven insights that help readers navigate complex economic landscapes. His authoritative content focuses on value investing, financial analysis, and general business topics, empowering both organizations and individuals with actionable intelligence to make informed decisions about their investments and trades.