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Dogecoin (DOGE) Price Prediction Today
As of January 30, 2025, Dogecoin (DOGE), the largest meme coin in the cryptocurrency space, is showing signs of a bullish trend. With an immediate support level at $0.31 and an uptrend momentum, it appears that DOGE may be forming a bullish double-bottom price action pattern on the daily time frame.
According to technical analysis, if DOGE holds this critical support level, there is a strong possibility for it to rise by 25% and reach the $0.41 level in the coming days. Additionally, the Relative Strength Index (RSI) currently stands at 45, indicating potential for further upside momentum.
It’s worth noting that traders have been accumulating DOGE, as reported by Coinglass, with exchanges witnessing an outflow of approximately $11.50 million worth of DOGE. This accumulation trend can lead to increased buying pressure and a subsequent rally.
Furthermore, the DOGE Long/Short ratio stands at 1.056, which is a high number indicating strong bullish sentiment among traders since the start of December 2024. Moreover, 53.5% of top traders hold long positions while only 46.5% hold short positions, further emphasizing this sentiment.
Based on these insights and analysis, it appears that bulls are dominating DOGE and may drive it towards the predicted level in the coming days.
Source: coinpedia.org
