Dogecoin (DOGE) surged by about 30% over the past week and again tested roughly the $0.09 mark. With it entering the recent high range in about three months, market analysts are divided over whether this rally can continue further.
Key points
Dogecoin rose by about 30% over the past week, reaching just before $0.09.
Analyst Ali Martinez set the next target at $0.177, saying that as DOGE broke through the $0.0813 resistance level, it could move toward that level next.
Recent inflows into centralized exchanges have exceeded outflows, raising the possibility of an increase in short-term selling pressure.
Dogecoin price rally
In recent seven trading days, Dogecoin surged by about 30% and has been trading just below the $0.09 level. As a result, the meme-coin price hit its highest level in roughly three months, and its market capitalization approached $140 billion.
At the same time, Dogecoin is widening its market-cap gap again versus Shiba Inu (SHIB), reaffirming its top meme-coin status by market capitalization. This rally began in earnest after breaking upward through the $0.0813 level where more than 30 million DOGE were traded.
On-chain and technical analyst **Ali Martinez** has identified this price zone as a key resistance. He suggested that if the market can settle above that range based on the closing price, there may be room to rise to $0.177. He cited whale-wallet accumulation activity and also buying signals spotted in the Tom DeMark Sequential indicator as supporting factors for the upward move.
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Martinez’s price target and the overheating debate
More aggressive analysts are forecasting an even larger surge. MikybullCrypto claimed that an “explosive move is imminent” and argued that DOGE could climb as high as $3, while Vuori Trading boldly suggested that the “most likely scenario is for the token to go to $10.”
However, if DOGE were to reach $10, its market capitalization could exceed $1.5 trillion, raising doubts about the scenario’s realism given current valuations. There is also a clear view that, compared to such a super-bullish case, the risk of a pullback (correction) in the short term is greater.
According to on-chain data, over the past several days DOGE’s inflows to centralized exchanges have been exceeding outflows, which may spur the release of profit-taking sell orders in the near term. The pattern of coins pouring into exchanges after a sharp run-up over a short period is typically seen around the formation of short-term market tops.
About a week before this rally, on-chain analyst The Great Mattsby pointed out that Dogecoin’s Bollinger Band width had narrowed unusually, saying it “could be an all-time-class squeeze (volatility compression) period.” Since then, DOGE has actually broken out of this low-volatility range and recorded a sharp rise of about 30%, reclaiming its strongest price levels seen in the past three months.
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