Dogecoin’s Wild Ride: Will It Soar to $3 or Just Bark at the Moon? đŸ¶đŸš€

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Well now, gather ’round, folks, for the tale of Dogecoin, that whimsical little pup of the crypto world, currently prancing about at a sprightly $0.33. It seems our furry friend is gearing up for a 10x rally, or as the fancy folks call it, a 900% leap to a dazzling $3.0. This excitement is all thanks to the fine folks at Bitwise, who’ve decided to throw their hat in the ring and file for a spot DOGE ETF. After a brief dip to $0.3159—a moment of weakness, if you will—Dogecoin has bounced back like a rubber ball and is now strutting its stuff at $0.3315.

Dogecoin Price Could Rally 900% Similar to 2021

Now, I know what you’re thinking: “Ain’t this just another wild goose chase?” But hold your horses! Our crypto sage, Ali Martinez, warns against betting against this scrappy little coin. He recalls the time back in 2021 when Dogecoin shot up like a jackrabbit on a hot griddle, soaring nearly 900% in just 48 hours. The current chart looks like it might just be warming up for a repeat performance. So, if you’re thinking of shorting Dogecoin, you might want to reconsider—unless you fancy a good old-fashioned liquidation party!

Source: Ali Charts

And let’s not forget, during the 2021 bull run, Dogecoin didn’t just trot; it galloped, skyrocketing over 10,000% in a mere 98 days. Now that’s what I call a party!

Our friend Crypto Scient, the oracle of the blockchain, predicts a significant rally for Dogecoin. It’s currently consolidating above the 1-day support level, finding a cozy spot at the 1-day 100 EMA. Sounds fancy, doesn’t it?

Source: Crypto Scient

There’s also a sturdy support level at $0.262, which just so happens to align with the 1-day 200 EMA. Crypto Scient suggests these are prime spots for scooping up some Dogecoin. But beware! If our little pup starts losing its grip on the 1-day 200 EMA, it could be a bumpy ride ahead.

Now, let’s talk about the whales—no, not the ones in the ocean, but the big fish in the Dogecoin pond. On-chain data shows a notable uptick in whale accumulation, with large holders stuffing their wallets with Dogecoin. Over the past week, inflows have grown by a whopping 5.33%. But wait, there’s more! In the last 30 days, we’ve seen a jaw-dropping jump of 323.86%, and in the last 90 days, inflows have skyrocketed by 3,722.46%. Talk about a feeding frenzy!

Bitwise Files for Dogecoin ETF

On a fine Tuesday, January 28, our friends at Bitwise decided to file for a spot Dogecoin exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC). Now, this S-1 filing needs a little buddy, a 19b-4 filing, to kick off the approval or denial process for this doggone memecoin fund.

Source: Polymarket

Earlier this month, REX Advisers and Osprey Funds also sought the SEC’s blessing to launch an ETF for Dogecoin and other meme coins. The surge in ETF filings has stirred the prediction

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2025-01-29 12:22