Analyst Predicts 1200% Dogecoin Price Rally as Open Interest Approaches 2-Week High of $1.73B

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🚀🐕 The DOGE Train is Leaving the Station! 🚂💸

Analyst Predicts 1200% <a href="https://bbg-news.com/doge-usd/">Dogecoin</a> Price Rally as Open Interest Approaches 2-Week High of $1.73B

As the crypto market sentiment shifts with the fear and greed index rising from 30 to 45, Dogecoin price has seen a 6% surge to a two-week high of $0.18. One wonders if this is merely a fleeting fancy or the beginning of a grand adventure.

Analyst Predicts 1200% Dogecoin Price Rally

Top market analyst Javon Marks, a man of impeccable taste and unwavering conviction, has decreed that Dogecoin is on the cusp of a 1200% surge. He points to the fact that DOGE has entered its third bull cycle, a notion that has sent shivers down the spines of even the most jaded of investors.

With the current uptrend showing no signs of abating, the immediate resistance level lies at $0.569. Flipping this level will unlock a parabolic price gain to the 161.8% Fibonacci level of $2.28. One can almost hear the sound of champagne corks popping and the faint whisper of “I told you so” in the background.

Javon Marks, the Oracle of DOGE

Popular analyst Ali Chart has also weighed in, opining that the tightening Bollinger bands suggest a major price move is imminent. One can almost smell the aroma of freshly brewed coffee and the sound of keyboards clacking away as traders scramble to get in on the action.

As top analysts forecast a bullish breakout, retail trading activity is likely to spike. Meanwhile, data from the DOGE derivatives market shows that traders are preparing for a significant price move. One can almost hear the sound of the DOGE train leaving the station, leaving all else in its dust.

Dogecoin Open Interest Hits 2-Week High of $1.73B

Dogecoin’s open interest is surging, according to Coinglass data, suggesting that traders are creating new positions. OI has been on a gradual rise in the past two weeks, reaching $1.73 billion, its highest level since March 10. One can almost hear the sound of the DOGE juggernaut rolling over all obstacles in its path.

DOGE Open Interest Chart

The rise in OI coincides with positive funding rates, a metric that suggests long traders are funding short sellers to keep their positions open. This highlights a positive sentiment, as traders bet on a bullish Dogecoin price prediction. One can almost hear the sound of the DOGE faithful chanting “We will not be silenced!”

The gains posted by DOGE in the last 24 hours have also sparked $4.87M in short liquidations. The liquidation map with a 30-day lookback period shows another hot liquidation zone at $0.197, where $62M short positions will be closed if DOGE extends its gains to $0.197. This will drive additional buy-side pressure. One can almost hear the sound of the DOGE train gathering steam.

DOGE Liquidation Map

Dogecoin Price Prediction as Bullish Momentum Builds

Dogecoin’s one-hour price chart shows a strong bullish momentum is already in play. The price has shot up to its highest price in two weeks, as the RSI made a series of higher highs and reached 78, indicating a strong bullish momentum. One can almost hear the sound of the DOGE faithful cheering on their beloved coin.

The MACD is also rising, signaling strong buying pressure that will sustain the positive momentum. However, for DOGE to continue the bullish trajectory, it needs to overcome critical resistance at $0.20. One can almost hear the sound of the DOGE community rallying behind their coin.

DOGE Price Chart

The gains recorded by Dogecoin come after a report by the Wall Street Journal revealed that President Trump is planning to ease tariff policies. Trump’s trade policy has been attributed to the weak performance across the crypto industry this month. Therefore, this tariff policy shift could pave the way for more Dogecoin price gains. One can almost hear the sound of the DOGE faithful chanting “We are the champions of the crypto world!”

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2025-03-24 18:55