Dogecoin Targets Potential 300% Surge Against Bitcoin Following Recovery
Dogecoin has regained attention following a technical rebound against Bitcoin, indicating potential upward momentum. The DOGE/BTC pair surpassed a crucial liquidity zone, previously acting as support.
Key Points
- DOGE broke above the 140-160 sats liquidity zone on the weekly chart.
- The recent recovery followed a "liquidity hunt" that saw prices drop before rebounding.
- Analyst Trader Tardigrade predicts a target of 0.00000516 BTC (approximately $0.576), over 300% above recent lows.
- Intermediate targets include 280 sats ($0.31) and 360 sats ($0.40).
Altcoin Season Discussion
- The outlook coincides with rising discussions about an altcoin season, historically marked by altcoins outperforming Bitcoin.
- Tardigrade suggests Dogecoin's movement could trigger broader market activity.
- Despite a current price near $0.21, down 4.41% in one day and 7% monthly, analysts emphasize long-term structure over short-term fluctuations.
Expert Opinions
- Ali Martinez anticipates a pullback to $0.22 before potentially reaching targets of $0.26, $0.28, and $0.31.
- Some experts compare the current scenario to past accumulation phases from previous cycles in 2014, 2017, and 2021, suggesting a possible rise beyond $0.7396.
- Confirmation of breakout signals could see Dogecoin become a significant market mover again.
