Dogecoin Rises 3% Today (5/3/25) – Could DOGE Be on Track to Hit $5?

Jakarta, Pintu News – Dogecoin (DOGE) price has stolen the spotlight again after recording a 3% gain on March 5, 2025, amid crypto market volatility. Currently, DOGE is showing a positive trend, sparking speculation whether this momentum can continue.

Several X analysts, including CryptoELITE, predict that Dogecoin has the potential to break the $5 level in the near future. What are the driving factors behind this surge, and is DOGE poised for a bigger rally?

Dogecoin price rises 3% within 24 hours

On March 5, 2025, Dogecoin (DOGE) saw a 3% increase in the past 24 hours, trading at $0.1994 (3,259 IDR). During this period, DOGE reached a high of 3,351 IDR and dipped to a low of 3,058 IDR.

At the time of writing, Dogecoin’s market cap stands at around $29.57 billion, with trading volume dropping 31% to $1.97 billion within 24 hours.

Read also: Ethereum Holds Strong at $2,173 Today (5/3/25) – Is a Major Price Move Coming Next?

Dogecoin Historical Cycle and Pattern Analysis

KALEO, a market expert, emphasizes that Dogecoin (DOGE) has entered a very bullish phase based on its cyclical performance. Using a 3-day chart, he compared Dogecoin’s (DOGE) behavior after each Bitcoin (BTC) halving event.

For example, after the 2016 Bitcoin (BTC) halving, Dogecoin (DOGE) broke out of its price range and reached its cycle peak at $0.0194 in January 2018. Something similar happened after the 2020 halving, where Dogecoin (DOGE) broke out of the ascending triangle pattern and reached its all-time high price at $0.7605 in 2021.

After retesting the triangle pattern in 98 bars (294 days), Dogecoin (DOGE) seems ready to resume its uptrend.

If history repeats itself, the meme currency could potentially reach unprecedented price levels, although KALEO did not mention a specific price target for this bullish continuation.

Dogecoin Whale Prediction and Activity: DOGE Could Reach $5?

Adding to the optimistic outlook, CryptoELITE analysts predict that Dogecoin (DOGE) will continue its significant northward movement, with some projections showing a rise to $5.

Read also: Bitcoin Price Hovered at the Level of Rp1.4 Billion Today (5/3/25): What’s Next for BTC?

This bullish sentiment is also supported by the recently increased whale activity. Ali Martinez, a prominent market watcher, recently highlighted that whales have returned to the Dogecoin (DOGE) network, with 140 million DOGE accumulated in the last 24 hours (3/3/25).

Implications for Investors and Markets

Dogecoin’s (DOGE) predicted rise will not only benefit long-term holders but could also attract new investors to the crypto market. This rise also shows the importance of understanding historical patterns and market cycles in crypto investing.

Investors who pay attention to these indicators may be able to capitalize on the trend for significant gains.

Overall, with analysis and predictions showing massive gains, the future of Dogecoin (DOGE) looks bright. For investors looking for opportunities in the crypto market, Dogecoin (DOGE) may be an attractive option.

However, as with all investments, it is important to do your research and consider the risks before investing.

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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 News Crypto. Dogecoin Eyes Bullish Resurgence as Analysts Predict a Major Upswing. Accessed on March 5, 2025