- Crypto trader Daan Crypto highlighted Dogecoin’s recent breakout, driven by accumulation in the $0.30–$0.33 range and a solid base formation.
- Whale activity in DOGE has surged, with $200 million worth of coins purchased in the past 48 hours leaving traders optimistic of a 60% rally ahead.
The world’s largest meme coin, Dogecoin (DOGE), has registered strong gains over the past week, setting the stage for another 140% gains ahead. If the DOGE price closes above $0.40 levels on the daily chart, it could set the stage for another 140% gains from here. Currently, the DOGE price is trading 3% down amid the broader market correction as the launch of the TRUMP meme coin has sucked all liquidity from the other digital assets, as previously reported by CNF.
As the crypto market gains momentum ahead of President-elect Donald Trump’s return to the White House, traders anticipate a major breakout for DOGE in the coming week.
Dogecoin (DOGE) Price Breakout Soon?
Popular crypto trader and analyst Daan Crypto said that the recent Dogecoin price breakout stems from two accumulation phases within the $0.30 to $0.33 range.
Earlier in 2025, DOGE experienced a swing failure pattern (SFP), temporarily pulling its price below $0.40. However, subsequent retest and recovery above $0.35 have resulted in solid base formation for further upward movement. Speaking on the development, Daan Crypto Trade said:
This has held stronger on this second flush than most coins, where $BTC, $ETH and many others made new lows on this week’s flush, DOGE made a nice higher low and trades back within its local range.
The analyst also asserts that Dogecoin (DOGE) has the strongest case as a “dino” coin, alongside Bitcoin (BTC) and XRP. The term “dino,” or “normie,” gained popularity in late 2024 to describe older crypto assets from previous bull markets. Dogecoin experienced a comparable breakout in November 2024, surging 222% within two weeks. Furthermore, as we discussed earlier, the Trump inauguration could be a potential catalyst for the meme coin.
On the other hand, the DOGE whale activity has surged significantly in recent times. As per data from blockchain analytics platform Santiment, DOGE whales have purchased $200 million worth of coins in the past 48 hours.
DOGE Rocket Launch to $1 By February
Despite strong resistance at $0.40, market analysts are confident that Dogecoin is preparing for a rocket launch of another 150% gains by February. Anonymous crypto trader WSB Trader stated that the meme coin has over a 60% probability of reaching $1 by the end of January.
Similarly, Johnny, a crypto investor with 785K followers, shared with his audience that retail investors could have a similar influence on DOGE as they did on XRP. He believes that once the memecoin gains traction, it will “trend hard again” and reach its psychological milestone of $1.
Retail has just sent $XRP from $.50 to $3.40 in a few weeks to new ATHs — retail coins about to catch fire
I think DOGE starts trending hard again and retail thinks they can pump it past $1
D.O.G.E starts Monday w/ Trumps inauguration & Elon
Doge szn soon pic.twitter.com/eFNtwedd09
— Johnny (@CryptoGodJohn) January 17, 2025
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