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Dogecoin to $1? Traders say a 140% DOGE rally could happen before February – TradingView

Dogecoin (DOGE) price rose 10% on January 17th and is now as high as $0.42 on the daily chart. A candlestick close above $0.40 would mark a strong trend reversal for memecoin, which has held its value between $0.45 and $0.30 since November 11th.

Traders are predicting another explosive breakout in DOGE next week as the cryptocurrency market gains momentum ahead of President-elect Donald Trump's return to the White House.

DOGE is the most powerful “dinosaur” coin after Bitcoin and XRP

Cryptocurrency trader and investor Daan Crypto highlighted that DOGE’s recent price breakout is the result of two accumulation periods between $0.30 and $0.33. At the beginning of 2025, DOGE recorded a swing failure pattern (SFP) and the price once again fell below $0.40.

However, the recent retest and recovery above $0.35 has established a strong foundation for Dogecoin to rise further. The businessman said:

“This second flush has seen this trend stronger than most coins. $BTC, $ETH, and many other coins hit new lows in this week’s flash, while DOGE hit significantly higher lows and ranged in its region. I returned the transaction within the company.”

Furthermore, analysts believe that DOGE has the strongest case as a “dinosaur” coin after BTC and XRP. Dino or Normie gained attention at the end of 2024 when previous bull market crypto assets such as XRP (XRP), Hedera (HBAR), Cardano (ADA), Stellar (XLM) started pumping better than the new story It's a term. token. Dogecoin achieved a similar breakout of 222% in two weeks in November 2024.

Market interest is starting to rise again as Santimento data reveals $200 million in purchases from DOGE whales in the past 48 hours.

Related: Why is Dogecoin (DOGE) price rising today?

60% chance of DOGE reaching $1 by February

With clear momentum building in the market, anonymous crypto commentator WSB Trader said there is a more than 60% chance that Memecoin will reach $1 by the end of January. The trader added:

“Don't let Elon Musk, the richest man on earth, and President Donald Trump, the most powerful man on earth, fade away.”

Similarly, crypto investor Johnny told his 785,000 followers that retail could have a similar impact on DOGE as it had on XRP. The investor believed that once the memecoin started trending, the trend would “get tough again” and reach the psychological level of $1.

Technical analyst Mickey Bull also shared a similar outlook after the crypto asset broke out of its bullish pennant as shown above. A similar price target of $1 was expected after the pattern break.

Related: XRP's 2017 strategy suggests 100% rally vs. Bitcoin by March

This article is for general informational purposes only and is not intended to be, and should not be taken as, legal or investment advice. The views, ideas, and opinions expressed herein are those of the author alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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