{"id":619224,"date":"2025-01-18T13:57:37","date_gmt":"2025-01-18T13:57:37","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=619224"},"modified":"2025-01-18T13:57:37","modified_gmt":"2025-01-18T13:57:37","slug":"dogecoin-price-prediction-doge-soars-10-as-this-new-layer-2-solana-token-rockets-past-11m-in-presale","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/dogecoin-price-prediction-doge-soars-10-as-this-new-layer-2-solana-token-rockets-past-11m-in-presale","title":{"rendered":"Dogecoin Price Prediction: DOGE Soars 10% As This New Layer 2 Solana Token Rockets Past $11M In Presale"},"content":{"rendered":"

The Dogecoin price soared 10% in the last 24 hours to trade at $0.4237 as of 8:59 p.m. EST on trading volume that jumped 77% to $7.5 billion, according to CoinGecko.<\/span><\/p>\n

This comes as the meme coin space <\/span>surged 7%<\/span><\/a> in the last 24 hours to a $126.7 billion market capitalization, with sentiment rising in the market ahead of Donald Trump’s inauguration ceremony on January 20.<\/span><\/p>\n

Dogecoin Price Gearing Up Towards A Breakout<\/b><\/h2>\n

The <\/span>DOGE price<\/span><\/a> analysis shows a strong recovery from its recent lows. After a significant bullish rally in late 2024, the Dogecoin price has been consolidating in a rectangular range between $0.31 and $0.436, which serves as key support and resistance levels, respectively. Currently, the price is approaching the upper boundary of this range at $0.43, which represents a crucial resistance area.<\/span><\/p>\n

Notably, there is a highlighted support zone near $0.28-$0.31, which has been successfully tested multiple times, confirming it as a robust demand area. The price of Dogecoin has remained above the 50-day Simple Moving Average (SMA) ($0.37) and the 200-day SMA ($0.21), suggesting an overall bullish trend.<\/span><\/p>\n

The chart indicates a breakout attempt, with the possibility of DOGE challenging the resistance at $0.48. If this level is breached, the price of DOGE could enter a new upward phase.<\/span><\/p>\n

Meanwhile, the Relative Strength Index (RSI) is at 65.64, nearing the overbought region (>70). This indicates increasing bullish momentum.<\/span><\/p>\n

The Moving Average Convergence (MACD) line (blue) is at 0.00919, above the signal line (orange) at 0.00177, confirming a bullish crossover. Moreover, the histogram is positive and expanding, suggesting rising buying pressure.<\/span><\/p>\n

\"Dogecoin<\/p>\n

DOGE\/USDT Chart Analysis Source: Tradingview<\/span><\/i> <\/span><\/p>\n

DOGE Price Prediction<\/b><\/h2>\n

Based on the observed technical indicators and chart patterns, the Dogecoin price appears poised for further upside, provided it can successfully break through the key resistance at $0.484. If the breakout occurs, the price could target the psychological level of $0.60 in the short term.<\/span><\/p>\n

However, if the resistance at $0.48 holds and the RSI shows signs of exhaustion, DOGE might pull back to the support zone around $0.37 or further down to the $0.31 support. <\/span><\/p>\n

As investors pile into the DOGE token, they are also snapping up the new Solana rival <\/span>Solaxy (SOLX)<\/span><\/a>, which 99Bitcoins, a popular crypto channel on YouTube with over 721K subscribers, says might soar 100x after launch.<\/span><\/p>\n