Dogecoin Price Eyes Massive Rally: Is $6 Possible?
The crypto market is moving with a different energy these days, and the Dogecoin price is hogging the spotlight. The world’s largest meme coin is surprising everyone again, and this time its journey looks even more exciting. Dogecoin has shown a fresh rally of 9% and now its price has reached $0.2832. Along with this, the market cap has also skyrocketed to $42.7 billion. This growth is not just a random spike, but there are strong factors behind it—like the Rex-Osprey DOGE ETF launch and the bullish sentiment building around it. Now the question is: can Dogecoin price really rally to $6?
Dogecoin Price Prepares For Parabolic Rally
If you look at the weekly chart, Dogecoin has registered solid gains of 31%, which is a strong signal for the crypto market. Daily trading volumes have reached $5.23 billion, which makes it clear that investors’ trust and excitement is still high. According to the latest data from Coinglass, DOGE futures open interest has gone up by 24% and now stands at almost $6 billion. This shows that people are actively getting involved with Dogecoin and its sentiment is quite bullish.
Popular crypto analyst Trader Tardigrade has also mentioned in his analysis that a potential bullish setup is forming on the weekly chart. He highlighted that whenever the Bollinger Band Width comes to the current orange level, historically Dogecoin price has rallied between 100% to 378%. If this pattern is followed, the short-term price target could be between $0.41 to $0.97.
And if we look at the multi-year chart, Dogecoin is seen breaking into the upward channel with a trend reversal. This means that the same setup that happened in the 2017 and 2021 bull runs can be repeated again. Analysts believe that this time Dogecoin price can go up to $6 with a parabolic rally. In the short-term, people expect to see a rally up to $1.
Dogecoin Price Boosted By Rising Treasury Demand
Dogecoin’s growth is not just due to charts and speculation. There is another major factor behind it—treasury demand. CleanCore Solutions has just announced that their official Dogecoin Treasury has crossed 500 million DOGE, which is currently calculated with a value of approximately $0.30 per token. Their ultimate goal is to accumulate 1 billion DOGE within just 30 days.
This is an aggressive institutional move that creates a huge positive signal for the Dogecoin ecosystem. In their first acquisition of CleanCore, they purchased 285 million DOGE under their corporate division House of Doge. Now, custody of the holdings is managed through Bitstamp, with Robinhood also providing custodial support. This clearly shows that big institutions are now actively betting on the future of Dogecoin, which could take its price even higher.
Will Dogecoin Price Go to $6?
If market experts are to be believed, the answer is—yes, the possibilities are quite strong. Despite being a meme coin, Dogecoin has established its presence and is now getting institutional support as well. The setup of a parabolic rally is already visible on the charts and if everything goes according to the pattern, the target of $6 seems quite reachable.
For now, the biggest expectation of investors and traders is on an immediate rally of $1. If Dogecoin breaks this level, then a domino effect can be created which will further accelerate its price. Despite the unpredictability of the crypto market, the current strength and demand of Dogecoin price are giving a clear indication of a new bull run.
Disclaimer:
This article is for informational and educational purpose only. This is not financial or investment advice of any kind. The crypto market is highly volatile, so do your own research and consult a financial advisor before making any investment decisions.
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