Is Dogecoin Poised for Another 50% Surge? (Analyst)

TL;DR

• The OG meme coin has recovered yesterday’s losses and is again above $0.24, with a well-liked analyst stating that the following main resistance is 50% increased than its present ranges.
• On the identical time, on-chain knowledge reveals that leveraged merchants proceed to construct large DOGE positions.

On-chain knowledge exhibits #Dogecoin $DOGE faces main resistance at $0.36, whereas the important thing assist zone to observe sits at $0.21. pic.twitter.com/qIABWXmkKd

— Ali (@ali_charts) May 14, 2025

In an effort to attain the primary main resistance outlined by Martinez, DOGE must outperform its weekly value surge, which noticed it acquire 40%. Recall that the oldest meme coin struggled at round $0.165 till this time final week, when the general market turned bullish and DOGE rode the wave in a powerful method, surging to a multi-month peak of $0.26.

Yesterday’s correction, which pushed it south to Martinez’s key assist zone of underneath $0.22, has been erased to a big extent, and DOGE now sits at $0.245.

In the meantime, Glassnode stated yesterday that the DOGE Futures Open Curiosity surged by nearly 64% up to now week, going properly above $1.6 billion. Which means the quantity of open quick and lengthy leveraged positions has skyrocketed, which comes at an intriguing time when DOGE’s rally cooled off.

In line with the analytics firm, such a speedy enhance within the Open Curiosity throughout value pullbacks signifies that merchants proceed to construct speculative positions, which may lead to enhanced volatility as soon as the market heads decisively in both route.

Regardless of $DOGE pulling again from its latest excessive, Futures Open Curiosity continues to rise, up +63.9% over the previous week ($989M → $1.62B). This decoupling suggests persistent speculative positioning, at the same time as value momentum fades – a setup price monitoring: https://t.co/N343pGpptL pic.twitter.com/icOVcqDffA

— glassnode (@glassnode) May 13, 2025