Analyst Predicts Dogecoin Explosion: New Millionaires to be Born in the Next 2-3 Months?

Jakarta, Pintu News – Recently, Crypto Bio highlighted a bullish divergence signal on the Dogecoin chart, and predicted that new Dogecoin millionaires will emerge in the next 2 to 3 months.

Dogecoin is showing signs of a potential trend change, having previously moved sideways after reaching a price peak at $0.19. In the past seven days, Dogecoin’s price has increased by 12.0%, in line with the market sentiment that has started to strengthen.

In a 14-day period, DOGE still recorded a gain of 10.6%, with the current price at $0.1816.

On the other hand, one analyst noted important technical developments, including bullish divergence signals that he believes will trigger a significant price spike and create more millionaires from Dogecoin assets in the coming months.

Potential Trend Reversal on Dogecoin

Read also: 5 Explosive Crypto Challengers Ready to Dethrone Ethereum!

Crypto Bio highlights two cases of bullish divergence on the Dogecoin chart, indicating weakening bearish pressure and a potential trend reversal. The first divergence occurred between late June and August 2024, when the Dogecoin price dropped to a range of $0.07 to $0.09.

However, the RSI indicator showed a pattern of higher lows, signaling a reduction in selling pressure. This pattern was then followed by a sharp rally that pushed the Dogecoin price through $0.40 in December 2024.

Following the same pattern, a second bullish divergence appeared between March to April 2025 amidst ongoing price volatility. This time, the Dogecoin price printed lower lows again, with the lowest point around $0.1300. However, the RSI formed higher lows again, repeating the previous bullish pattern.

The analyst noted that Dogecoin seems to be “on the rise,” with a potential price target of close to $0.5 in the next 2 to 3 months. He also added that this surge could create more millionaires among Dogecoin owners.

However, to become a millionaire from this rally, investors would need to own a very large amount of DOGE. To illustrate, if the Dogecoin price actually reaches $0.5, then the current $10,000 holding would only grow to around $27,534 – resulting in a profit of $17,534.

One would need to own about 2 million DOGE to become a millionaire at the $0.5 price level. At current prices, that amount is worth about $360,000.

Parabolic Trendline Still Holding

In addition to the bullish divergence, the analyst named abermix also observed that Dogecoin is currently still respecting a long-term parabolic trend line. This uptrend line is drawn from a low point around $0.05 in the 2022-2023 period and continues to curve upwards until 2025.

Dogecoin’s price is currently just above that trend line, although it has tried to break it several times – such as at $0.06, around $0.08, and back above $0.14.

Interestingly, although DOGE is still trading slightly below both its short- and long-term exponential moving averages (EMAs), analysts predict that a small rally above the $0.20 level could be the trigger for a stronger trend reversal confirmation.

Read also: XRP Set to Skyrocket to $120? Here’s Why This Top Analyst Thinks It’s Possible!

Breakout from Falling Wedge Pattern Strengthens Dogecoin’s Bullish Signal

Adding to the technical evidence in favor of a positive trend, analysis on April 25 showed that Dogecoin had successfully broken out of a falling wedge pattern. This pattern has kept DOGE in a downtrend for several months, with resistance levels tested at $0.28 in February and again at $0.16 in April.

The breakout occurred around the $0.18 level and was accompanied by an increase in trading volume and the recovery of some important support levels. This indicates a potential shift in direction towards an uptrend.

The analyst noted that the falling wedge pattern has historically often been an early signal of a bullish trend reversal, and the current price action is in line with the pattern. With strong support identified around $0.143 and $0.16, the next upside target is expected to be towards the $0.46 level.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• The Crypto Basic. Analyst Says Dogecoin Millionaires Will Be Made In The Next 2-3 Months. Accessed on April 29, 2025