The post Dogecoin’s Bullish Outlook: Traders Anticipate Potential 180% Rally Amid Strong Market Demand appeared on BitcoinEthereumNews.com.

A bullish pattern has emerged on Dogecoin’s weekly chart, leading traders to anticipate a potential 180% gain from DOGE. Key Takeaways: Dogecoin’s 38% surge reflects strong market demand, with spot-buyer volumes taking charge since March. A bullish MACD crossover has traders predicting a 180% rally, with targets set at $0.65 and $1. Dogecoin’s (DOGE) price has rallied in tandem with Ethereum over the past week, gaining 38% in May, marking its strongest monthly performance this year. According to CoinGecko, DOGE recorded $4.7 billion in trading volume within the last 24 hours, securing its position as the fifth largest cryptocurrency (excluding stablecoins). The memecoin’s strength is accompanied by robust on-chain metrics. Data from CryptoQuant indicates that DOGE’s spot taker 90-day cumulative volume delta (CVD), which measures the net difference between buying and selling volume over 90 days, has been “taker buyer dominant.” This trend signifies that aggressive buying has outpaced selling, a pattern last encountered in November 2024, which led to a significant breakout rally of 385% to $0.48 in Q4, 2024. The long-term holder net unrealized profit/loss (NUPL), which tracks unrealized profits or losses for DOGE holders with a lifespan of at least 155 days, recently surpassed 0.5 for the first time since March 1, 2025. This indicates an optimistic or “belief” sentiment, as a NUPL above 0.5 means that the majority of holders are currently in profit, suggesting confidence and a lower probability of selling. This optimism helps stabilize prices, as holders may prefer to wait for higher gains rather than sell. These metrics indicate robust market demand, with investors actively accumulating Dogecoin, significantly contributing to its recent ascension. Is DOGE Set for Another Parabolic Rally? With a favorable market structure, the anonymous technical analyst Trader Tardigrade has revealed a bullish forecast for the DOGE/BTC trading pair. The analysis…

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Filed under: News - @ May 13, 2025 4:21 am