Dogecoin (DOGE) Price Prediction: 1200% Spike Possible as Market Sentiment Shifts from 30 to 45

Analysts now believe that the Dogecoin rally may have just begun, as historical patterns show that the meme coin has the potential to rise up to 1200%.

The Dogecoin Fear and Greed index from 30 to 45 on March 24, signaling a change in market sentiment.

What happened: Analysts say that the Dogecoin rally may have just begun, as the meme coin has the potential to rise up to 1200% according to historical patterns.

If history repeats itself, could Dogecoin finally break $2 for the first time?

If you’re worried, there can be no reason for you to be as $DOGE has more purpose and backing than ever before!

Prices of $DOGE (Dogecoin) are right in their third, massive bull cycle performance!

Based on previous cycles, Dogecoin can be prepping for a >1,160% push to 161.8% Fib (around $2.28).

But if the current uptrend continues as buying activity increases, the nearest resistance level is at $0.569.

If the price manages to break this level, a potential parabolic price increase could take DOGE towards the 161.8% Fibonacci level of $2.28.

Another popular analyst, Ali Chart, expressed an optimistic view on $DOGE.

He highlighted that the narrowing of the Bollinger Bands signals the possibility of an imminent large price movement.

Tight squeeze on the #Dogecoin $DOGE 12-hour chart! The Bollinger Bands are narrowing, which is often a precursor to a major price move.

With various top analysts predicting that $DOGE will experience a bullish breakout, retail trading activity is expected to increase sharply.

Meanwhile, data from the $DOGE derivatives market shows that traders are bracing for a big price move from $DOGE.

Data from Coinglass shows that Dogecoin’s open interest (OI) is surging, indicating that traders are opening new positions.

Over the past two weeks, OI has continued to rise gradually and has now reached $1.73 billion, the highest level since March 10.

This increase in OI also corresponds to a positive funding rate. When this metric is positive, it means that traders who go long are paying short traders to keep their positions open.

This reflects an optimistic market sentiment, as many traders are betting on the predicted Dogecoin price increase.

As of March 24, 2025, $DOGE’s price spike also triggered the liquidation of $4.87 million in short positions.

The liquidation map over a 30-day period shows another large liquidation zone at $0.197.

If $DOGE rises to that level, then $62 million worth of short positions will be liquidated, potentially adding further buying pressure in the market.

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Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing.

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