Analysts highlight narrowing Bollinger Bands on the 12-hour chart, signaling an imminent major Dogecoin price move in the near term.
By Bhushan Akolkar
Updated
3 mins read
Dogecoin DOGE $0.19 24h volatility: 3.3% Market cap: $28.55 B Vol. 24h: $1.71 B price is showing a healthy uptick gaining 4% in the last 24 hours bouncing back from the crucial support of $0.16. Market analysts believe that this could be the beginning of a parabolic rally for DOGE amid a strong bullish sentiment in the futures market.
Crypto analyst Ali Martinez has highlighted a significant development on Dogecoin’s (DOGE) 12-hour chart. In his recent message on the X platform, he said that the DOGE Bollinger Bands are narrowing. This is a classic indicator that often signals an impending major price move.
Tight squeeze on the #Dogecoin $DOGE 12-hour chart! The Bollinger Bands are narrowing, which is often a precursor to a major price move. pic.twitter.com/GzPWTLUAkx
— Ali (@ali_charts) March 24, 2025
For a very long time period, Dogecoin price has been flirting in the $0.16-$0.18 range. Thus a breakout above this could get the bulls activated once again, leading to quick gains of $0.30 and beyond.
Apart from this, crypto analyst Ali Martinez also stated that 76.26% of traders with open Dogecoin positions on Binance Futures are leaning bullish. This heightened trader confidence could provide a further push to the meme coin as it approaches a potential breakout.
76.26% of traders with open #Dogecoin $DOGE positions on Binance Futures are leaning bullish! pic.twitter.com/4wRvfYfKPF
— Ali (@ali_charts) March 23, 2025
Amid the recent chart formations, market analysts are turning bullish for Dogecoin price, with some even predicting 12x gains, expecting DOGE to hit all the way to $2.28. Trader Tardigrade has observed a bullish market shift for Dogecoin (DOGE) as the meme coin recovers from an ascending triangle pattern.
The meme coin is now forming higher highs and higher lows, transitioning from its previous structure of lower highs and lower lows.
#Dogecoin is recovering from an ascending triangle, forming higher highs and higher lows from lower highs and lower lows 🔥$Doge has shifted the market structure from a downtrend to an uptrend on the hourly chart since it just formed the second higher high ✅ pic.twitter.com/rCEWAQfisx
— Trader Tardigrade (@TATrader_Alan) March 24, 2025
Crypto analyst Javon Marks has also expressed strong confidence in the current DOGE trajectory, citing robust community backing and increased utility. According to Marks, Dogecoin is entering its third significant bull cycle, setting the stage for substantial price appreciation.
If you’re worried, there can be no reason for you to be as DOGE looks to have more purpose and backing than ever before with prices of $DOGE (Dogecoin) right in their third, massive bull cycle performance!
Based on previous cycles, Dogecoin can be prepping for a >1,160% push to… pic.twitter.com/rGyl0tMFlf
— JAVON⚡️MARKS (@JavonTM1) March 23, 2025
By comparing to the previous market cycles, the analyst also stated that Dogecoin price has the potential to rally 1,160%, which could propel DOGE beyond the $2.28 mark. “We are talking about more than a 12X surge,” Marks noted.
On the other hand, optimism surrounding the DOGE ETF remains intact as of now, owing to improved regulatory conditions. Top players like Bitwise and Grayscale have been in the race for the approval of this ETF.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
