Dogecoin price prediction: meme coin surges 6% as bulls eye $0.20 breakout

  • The meme coin segment’s market cap grew 8.60% to $56.47 billion.
  • Coinglass data shows 63.66% of Dogecoin derivatives traders are holding long positions.
  • Fibonacci levels highlight $0.2131 as the next major target after $0.20.

Dogecoin is once again capturing market attention as Bitcoin maintains its stronghold above $93,000.

Over the last 24 hours, the meme coin segment has experienced a sharp 8.60% increase in total market capitalisation, reaching $56.47 billion.

Leading the charge, Dogecoin’s value rose by 4.30%, lifting its market cap to $27.o3 billion.

With DOGE now hovering around $0.18, traders are closely watching for a decisive move past the psychological $0.20 barrier.

Source: CoinMarketCap

As bullish momentum builds, questions arise about whether Dogecoin is preparing for a sustained breakout or even a potential doubling in value.

Dogecoin price breaks wedge pattern as bulls regain control

On the daily chart, Dogecoin’s price shows a clean bullish breakout from a falling wedge formation.

This key technical move materialised with a strong 12% surge on 22 April, resulting in a bullish engulfing candle.

The rally has helped DOGE push above the 50-day exponential moving average (EMA) and the 23.60% Fibonacci retracement level at $0.1820.

As bullish candles continue to form, the breakout hints at the beginning of a trend reversal.

At present, Dogecoin is grappling to hold its ground above the 23.60% Fibonacci mark.

Meanwhile, momentum indicators such as the moving average convergence divergence (MACD) show positive developments.

The MACD and signal lines are nearing entry into positive territory, accompanied by newly emerging positive histograms.

With price action clearing the 50-day EMA, the next dynamic resistance sits near the $0.20 psychological level and the 100-day EMA.

Should Dogecoin’s momentum persist, Fibonacci projections suggest the next immediate target lies at $0.2131, aligning with the 38.20% retracement level.

Derivatives data show rising bullish sentiment for Dogecoin

As Dogecoin’s price inches higher, bullish sentiment across the derivatives market is gathering steam.

According to data from Coinglass, long positions in Dogecoin derivatives have significantly increased over the past few hours.

The long-to-short ratio now stands at 1.7518, with approximately 63.66% of traders taking long positions.

This notable rise indicates growing optimism about an extended rally and adds further strength to the ongoing recovery narrative.

The shift in derivatives positioning suggests that market participants are preparing for a continuation of the bullish breakout, particularly if Dogecoin can successfully secure a close above the $0.20 mark.

Analyst identifies potential 600% rally if trendline holds

Adding to the bullish outlook, popular crypto analyst Trader Tardigrade has presented a striking Dogecoin price prediction.

According to the analyst’s recent technical chart, a long-standing support trendline has historically fuelled rallies of 200% and 400% in Dogecoin’s price.

Building on this pattern, the analyst forecasts the possibility of a 600% surge if the trendline holds. Such a move would place Dogecoin’s price near $0.93.

Although this scenario paints a highly optimistic picture, the historical success of the trendline offers some basis for the bullish projection.

Nevertheless, broader market conditions, Bitcoin’s stability, and retail enthusiasm are likely to play critical roles in determining whether Dogecoin can achieve such ambitious price targets in the coming months.

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Bitcoin ETF inflows hit $442M as Bitcoin price nears $100K target

  • BlackRock’s iShares Bitcoin Trust (IBIT) dominated the latest wave of inflows, securing $327.3 million.
  • 87.3% of Bitcoin’s supply is now profitable, up from 82.7% in March.
  • On-chain data suggests accumulation is rising amid retail FOMO signals.

Bitcoin exchange-traded funds (ETFs) in the United States attracted $442 million in net inflows on Thursday, marking the fifth straight day of gains.

Although the figure was smaller than the previous days’ numbers, the sustained momentum points to strengthening institutional confidence in Bitcoin amid volatile global economic conditions.

As Bitcoin holds firm at $94,000, investor optimism continues to rise, with renewed calls for a $100,000 target gaining traction across markets.

At the same time, on-chain data reveals a critical shift in Bitcoin’s profitability metrics, highlighting increased accumulation.

BlackRock’s IBIT leads Bitcoin ETF inflows with $327M

BlackRock’s iShares Bitcoin Trust (IBIT) dominated the latest wave of inflows, securing $327.3 million according to SoSoValue data.

Ark Invest and 21Shares’ ARKB followed with $97 million, while Bitwise’s BITB and Invesco’s BTCO gathered $10.2 million and $7.5 million, respectively.

Although Thursday’s inflow was lower compared to the $916.9 million and $936.4 million seen earlier in the week, the persistence of demand signals rising institutional interest.

Overall trading volumes across the 12 US-listed Bitcoin ETFs fell to $2 billion on Thursday, dropping from $4 billion the previous day.

Nevertheless, the broader trend shows an increasing appetite for crypto investment vehicles, particularly as macroeconomic tensions remain elevated.

Thursday’s ETF performance came alongside a positive session in US stock markets.

The Nasdaq climbed 2.7%, the S&P 500 rose 2%, and the Dow gained 1.2%, fuelled by signs of easing US-China trade tensions.

Bitcoin continued to demonstrate resilience in parallel with these broader moves, trading at $94,552 at press time, according to CoinMarketCap.

Ether also saw modest gains, edging up 0.43% to $1,778.

Bitcoin accumulation rises as supply profitability surges

Data from Glassnode shows that 87.3% of Bitcoin’s circulating supply is now in profit, up from 82.7% during the last time BTC neared $94,000 in March.

The increase reflects renewed buying activity during recent price pullbacks, suggesting that investors took advantage of market dips to strengthen their positions.

Historical patterns indicate that when over 90% of the Bitcoin supply remains profitable, market dynamics often enter a euphoric phase, which can trigger steep price rallies.

This behaviour aligns with past cycles, where profitability-driven sentiment contributed to major tops and local peaks.

Meanwhile, spot Ether ETFs also showed recovery signs, registering $63.5 million in net inflows on Thursday after $23.9 million in outflows the previous day, according to the latest available data.

This uptick mirrors broader optimism across the crypto sector, driven by both market structure and macroeconomic catalysts.

FOMO among small investors hints at volatility risks

On-chain analytics firm Santiment observed a notable rise in fear of missing out (FOMO) among smaller Bitcoin holders as prices approached $94,000.

Historically, increased FOMO among retail traders often accompanies local market tops, adding a layer of caution to short-term projections.

Despite this risk, the longer-term outlook remains supported by fundamentals.

Santiment indicated that while Bitcoin may indeed touch $100,000 soon, significant milestones typically follow periods of cooling off rather than immediate hype-driven surges.

Supporting this view, Prince Filip Karađorđević of Serbia shared his bullish stance in a recent interview, suggesting an imminent “omega candle” breakout that could drive Bitcoin well beyond $100,000.

He argued that while market forces may currently suppress Bitcoin’s upward move, a breakout appears inevitable.

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STX price jumps 16% as traders brace for reversal, RSI hits 74

  • Coinglass shows a long/short ratio of 0.95, indicating bearish sentiment.
  • STX could fall to $0.47 if correction unfolds.
  • Resistance at $1.07 is the next key test for bulls.

Stacks (STX) has emerged as the strongest performer in the crypto market over the past 24 hours, registering a 16% surge in its price.

The jump has also been accompanied by a sharp rise in trading volume, indicating increased investor interest.

However, the bullish rally appears to be at odds with underlying market sentiment.

On-chain metrics show a growing appetite for short positions, suggesting many traders anticipate a near-term correction despite the spike.

The conflicting signals between technical indicators and price action place STX in a potentially volatile position as investors debate the token’s next move.

Source: CoinMarketCap

Short interest rises

While STX has rallied aggressively, data from Coinglass shows that its long/short ratio has dropped to 0.95.

This figure indicates that bearish bets are outpacing bullish ones in the futures market.

The long/short ratio is a key sentiment indicator in derivatives trading, comparing the number of long positions, expecting price increases, to short positions, anticipating declines.

A ratio below one implies that more traders are betting against the price than supporting the rally.

The heightened short interest highlights caution among market participants, who may see the rally as overextended or driven by short-term speculation rather than sustained fundamentals.

This divergence between price action and futures sentiment has raised concerns about the longevity of STX’s current uptrend.

RSI overbought

Adding to bearish signals is STX’s Relative Strength Index (RSI), which currently reads 72.95.

RSI is a widely used momentum oscillator that gauges whether an asset is overbought or oversold, based on recent price movements.

Readings above 70 suggest overbought conditions, typically preceding a price decline, while readings below 30 indicate oversold conditions.

The RSI’s upward trajectory suggests that STX could be nearing a local top.

A sustained reading in the overbought zone has historically triggered short-term corrections in other cryptocurrencies.

If a correction unfolds, the altcoin could potentially drop towards its year-to-date low of $0.47.

Resistance at $1.07

Despite overbought conditions and bearish sentiment, the rally could still have legs if demand persists.

Traders are watching the $1.07 level as the next significant resistance zone.

If STX manages to break through this ceiling, it could signal a continuation of the bullish trend and invalidate short-term bearish expectations.

Historically, altcoins with strong community support and use-case narratives have defied technical indicators during breakout periods.

However, a failure to break this resistance could affirm the bearish thesis and increase the likelihood of a retracement to previous support levels.

Price at a crossroads

The current divergence between price performance and trader sentiment suggests a critical juncture for STX.

While the altcoin has seen a notable spike in value and trading volume, the presence of significant short interest and overbought technicals poses a potential threat to sustained momentum.

Whether the token can maintain its rally depends on broader market support and investor conviction.

If buying pressure continues, the bullish breakout may extend. But if trader scepticism proves right, STX could soon give up its gains.

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The Graph price prediction as GRT surges 15%

  • The Graph (GRT) price was up 15% and above $0.10, rising as most altcoins gained.
  • Bitcoin’s bullish flip this past week could boost altcoins, including GRT.
  • The Graph’s price is above a key level after a breakout of a technical pattern.

The Graph (GRT) has emerged as one of the standout performers in the latest crypto rebound, gaining over 15% as sentiment across digital assets turned sharply positive.

The move follows Bitcoin’s rally to above $94,000, driven in part by speculation around easing trade tensions and a broader macroeconomic tailwind that lifted risk assets, including equities.

That momentum spread to altcoins, with GRT among the top gainers within the 100 largest tokens by market capitalization.

Notably, The Graph’s price action in the past 24 hours saw buyers break above a key technical pattern.

It’s an outlook that mirrors the moves for Sui and Arbitrum prices.

The Graph price jumps 15% as altcoins rise

As noted, The Graph’s price has climbed 15% in the past day. It is also more than 31% up in the past week, which aligns with a broader altcoin rally after BTC spiked to above $94k.

On-chain activity, including staking by Indexers and Curators, continues to grow, potentially fueling further price gains for the altcoin.

Currently, GRT is trading at $0.102, having jumped to an intraday high of $0.103.

The altcoin, which boasts a 24-hour trading volume of $59 million (up 44%) and market cap of $997 million, is the 71st largest among cryptocurrencies.

Strong buying momentum, driven by renewed interest in decentralized infrastructure projects, has pushed The Graph price above a key level.

GRT reached its all-time high of $2.88 in February 2021.

Can GRT price break to $0.2?

GRT recently broke through a falling wedge pattern, a bullish technical setup that often signals a trend reversal.

In most cases, a retest of a key hurdle and subsequent explosive move adds to the intensity of a breakout.

As an analyst points out in the chart below, The Graph price’s breakout occurred as GRT surpassed the $0.1 resistance level.

While not a major move, it’s an area representing a key psychological and technical barrier highlighted with a falling wedge.

In the market, analysts look at falling wedge patterns, characterized by converging trend lines and declining volume, as indicative of a potential bullish flip. Buyers step in to push prices higher.

Recently, another analyst shared a GRT price chart showing a “perfect ABCD harmonic pattern.”

According to Alpha Crypto Signal, the altcoin was poised for a recovery, with this scenario unfolding on the weekly time frame.

If positive sentiment prevails, GRT price could target $0.15 and then $0.2.

However, failure to maintain above $0.1 might see GRT retest support near $0.072.

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Dogecoin and Ethereum analysis as CartelFi gains momentum

Crypto majors and top meme tokens are consolidating the week’s strong gains as the bulls strive for more gains in the ensuing sessions. While most of them trade within a tight range, fresh projects like CartelFi have maintained an upward momentum. 

CartelFi, a new Defi platform, is going viral by solving an inefficiency that meme lovers have been grappling with for years. Between price rallies, the tokens lie idle. This means that for one to earn yields, they have to sell the more volatile assets like DOGE and opt for stablecoins. 

CartelFi, a new entrant in the DeFi landscape, is solving this issue by bringing yield farming to reality. Investors can now rake in hefty passive income from their meme tokens without still enjoying 100% price exposure.  

Dogecoin faces key hurdle on its path to a 7-week high 

This week’s cryptocurrency recovery has seen Dogecoin price break past a crucial resistance zone of $0.1700. However, as the meme coin trades within a tight range, bulls need to gather enough momentum to break the resistance at $0.1900 if they are to sustain the uptrend.

In the near term, the range between $0.1609 and $0.1918 will be worth watching. If successful at moving past that range, Dogecoin price will have a chance to retest its 7-week high at $0.2062.

CartelFi: The DeFi project transforming meme tokens into cash cows

CartelFi, a new entrant in the meme crypto space, is capturing the attention of crypto enthusiasts by offering them an opportunity to earn from their meme tokens without selling them. So attractive is this model that it raised over $500,000 in the first 24 hours of its presale. Less than three weeks in, that figure has surged to over $1.1 million. 

Instead of having the preferred meme coins lying idle, investors get to rake in passive income of up to 10,000% APY by single-staking the tokens. At the same time, they still get 100% price exposure; meaning that they do not lose out on the asset’s upside potential. 

The project has also introduced the concept of programmed scarcity to ensure that the token maintains an upward momentum. More specifically, up to 100% of the platform fees are used in buying and burning CartelFi tokens.  

Based on its one-of-a-kind infrastructure, CarteFi stands out as a sustainable investment opportunity. Besides, even before hitting the mainstream in Q3, savvy investors get to earn heftily from its presale.

Structured into 30 stages, the token price increases by 5% at the end of each stage. At its current price of $0.037, early adopters have an irresistible opportunity earn big during the presale and rake in even more gains once the CARTFI token is listed on public markets. Hurry up and buy CartelFi here.

Ethereum price consolidates gains as greed level eases 

Ethereum price has held steady above $1,700 since rebounding above it earlier in the week. However, as the greed level eases from the previous session’s 72 to 63, the altcoin appears to have entered a consolidation phase. While its market cap has increased by 2.51% over the past 24 hours, its trading volume has dropped by 25.19% during the same timeframe. A decline in volume usually indicates waning demand. 

In the ensuing sessions, I expect Ethereum price to continue enjoying steady support along the middle Bollinger band at $1,619. On the upside, it may hover around the upper Bollinger band as the bulls strive to break the resistance at $1,834. If successful, the next target will be at $1,939.

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