Keep an Eye Out—Analyst Predicts Dogecoin Could Make Millionaires This Quarter
Reasons for Confidence
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Recent analysis suggests that Dogecoin (DOGE) may be poised for a substantial price rise in the coming months. Currently at $0.17, the cryptocurrency has experienced a 10% increase over the last week and is up by 11% in the past two weeks.
Related Insights
Bullish Divergence Suggests Potential Rise
According to technical analysis, two distinct bullish divergence setups are apparent in Dogecoin’s pricing data. The first occurred from June to August 2024, during which DOGE’s price dipped between $0.07 and $0.09 while the Relative Strength Index (RSI) showed rising lows. This led to a significant rally, pushing DOGE above $0.40 by December 2024.
A similar divergence formed between March and April 2025, where despite the price hitting lower lows around $0.1300, the RSI maintained higher lows. Such technical indicators have some analysts predicting that DOGE might reach $0.5 in the next couple of months.
Calculating the ‘Dogecoin Millionaires’
Talk of new ‘Dogecoin millionaires’ is generating excitement among investors. The projections reveal a more serious perspective. Should the price hit $0.5, a $10,000 investment could yield approximately $27,530, marking a profit of $17,530.
$DOGE is making its move. The same indicators, the same conditions.
New millionaires could emerge within the next couple of months! 🔥#DOGECOIN 🚀🚀 pic.twitter.com/mKQjjglJiO
— Crypto Bio (@CryptoBio_) April 27, 2025
To actually be considered a millionaire if DOGE reaches $0.5, one would need about 2 million coins, which are estimated to be worth $360,000 at the current rate. Analysts like Crypto Bio confidently state that “new millionaires are on the horizon within the next few months.”
This assessment highlights the significant financial investment required to achieve the millionaire status often promoted to lure new cryptocurrency enthusiasts.
Support from Parabolic Trendline
Another analyst, known as “abermix,” mentions that Dogecoin is currently following a longstanding parabolic trendline that commenced around $0.05 between 2022 and 2023. Despite several attempts to drop below this line at various price levels ($0.06, $0.08, and $0.14), DOGE has consistently rebounded to maintain positions above it.
$doge is currently adhering to this parabolic trendline
I’m uncertain if this holds true but it appears that way xD
Could we anticipate a bounce soon?#Dogecoin pic.twitter.com/moQHd7WCpt
— abermix (@abermixcrypto) April 27, 2025
Related Insights
The current price is slightly beneath both short-term and long-term exponential moving averages (EMAs). Analysts believe that surpassing the $0.20 mark will affirm a larger trend reversal, potentially leading to further gains.
Falling Wedge Formation Enhances Optimism
Reports from April 25 indicate that Dogecoin has emerged from a “falling wedge” pattern that had kept it in a downward trajectory for several months. Previous resistance levels were tested at $0.28 in February and $0.16 in April.
Market analysts remark that while these technical signals appear positive, the unpredictable nature of cryptocurrency pricing remains. This price action follows several months of stagnation after DOGE peaked at $0.19, and any investment decision should factor in the market’s volatility.
Featured image from an undisclosed source, chart from TradingView
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