DOGE Explodes by 35% in 2 days But Is That Just the Start?
TL;DR
- Meme coin season seems to be returning as numerous representatives of that niche have recorded massive gains, including their leader.
- DOGEs price has soared by double-digit on a daily, weekly, and monthly scale, but analysts seem to be aligned in thinking that this is just the start.
Recall that DOGEs price had tumbled to a multi-month low of $0.13 just several weeks back, during the darkest hours of the Trade War between the US and essentially the rest of the world. As the global macro conditions improved, though, so did the crypto market, and Dogecoin has been among the frontrunners of gains.
Fast forward to May 8, the OG meme coins price stood at around $0.17. In just a short 48-hour period, its price skyrocketed by 35% to its highest levels since early March of $0.23.
Popular crypto analysts quickly picked up the move and outlined even more bullish price targets for the largest meme coin. Ali Martinez was among the more modest ones, envisioning a price surge to $0.27 as DOGE has rebounded strongly from its ascending support trendline.
#Dogecoin $DOGE is rebounding strongly from its ascending support trendline, eyeing a potential move toward $0.27. pic.twitter.com/E3BVdOfo2s
Ali (@ali_charts) May 10, 2025
Satoshi Flipper was even more bullish, indicating that DOGEs price against the dollar is ripping and their chart predicts a price surge toward $0.4.
Cephii told their almost 80,000 followers on X that Dogecoin will have a new floor price because of the ETFs that they believe have a high likelihood of being approved. They advised people to hold and continue buying if the price slips to $0.19 once again.
$doge will have a new price floor because of the ETFs which have a high likelihood of being approved. ETFs will result in more $doge being held indefinitely too even if they are only minimally popular. As a store of value, $doge market cap is very sensible given how well know pic.twitter.com/EBh7Geesql
Cephii (@Cephii1) May 10, 2025
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Text source: CryptoPotato
