You Won’t Believe If Dogecoin (DOGE) Hits $1 Next Month! 😱🐕

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Well, well, well… Dogecoin (DOGE) has been behaving like a stubborn cat refusing to leap over the weekly high of $0.35, grumbling down to $0.33 instead. Its market cap appears to be on a diet, shrinking by 0.35% today; and the trading volume? Oh, it has taken a nosedive by 21% to $1.5 billion. 🙀📉

But you’ve got to love the optimists among us, hanging on tight for a magical, gravity-defying leap to $1 next month. But really, how plausible is this dream?

Dogecoin’s $1 Dream: Hype or Reality?

At this moment, DOGE is still 15% shy of its all-time high, and despite aiming for the stars, the market cap has only managed to haul up to 72% of its peak $73.8 billion valuation from yesteryears, now at a modest $49 billion. Bravo, CoinMarketCap. 🙌👀

Examining those mystical price charts, a trendline resistance previously behaving like a high-security prison wall (TL LQDT) has finally given way. This suggests DOGE might be planning a jailbreak, ready to chart a new course. 🎢🚀

Yet, despite daring whispers of escape, it plummeted to $0.42 and decided to play house between $0.30 and $0.33 since the 27th of January. 🤷‍♂️

Meanwhile, there’s a comforting cushion of support at $0.295, signaling that buyers might still have some fight left. The Relative Strength Index (RSI) is crawling from oversold to a neutral 50%, but with the enthusiasm of a sloth on a sultry afternoon. 🦥📉

January also treated us to some bearish divergence signals, suggesting buyers might be yawning from exhaustion just before the recent slide.

For DOGE to reach the elusive $1—yes, that’s a whopping 67% leap from its current napping spot—it will need investors with nerves of steel to break through the $0.4 resistance. That could give it the rocket fuel for a truly Martian journey. 🪐✨

DOGE ETH Could Get Interest

Interesting times ahead, as Bitwise has recently wished upon a star to create a Dogecoin ETF and, oh joy of joys, it just got the SEC’s nod of approval. This might usher in a pack of institutional investors and ignite the dormant flames of retail demand. 💼🔥

Adding another sprinkle of hope, the notorious WSB Trader is placing a 60% chance on DOGE hitting $1 by the end of January. Well, that didn’t materialize, but hey, there’s always February! 🤞🤨

So here’s the scoop: keep an eagle eye on the $0.40 resistance. Should DOGE bulldoze through with gusto, $1 could be within paw’s reach. Otherwise, it might just bounce back to mull over its life between $0.30-$0.32. 🐕🔍

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2025-01-31 23:01