Dogecoin
is
once
again
seeing
an
upside
following
the
Bitcoin
recovery
above
$66,000,
which,
in
turn,
triggered
a
broader
crypto
market
recovery.
Crypto
analyst
Crypto
Scient
expects
this
bullishness
to
continue
going
forward
and
eventually
lead
to
the
start
of
another
meme
coin
mania.

Dogecoin
Set
To
Kickstart
Meme
Coin
Mania

Presently,
the
Dogecoin
price
is
not
as
bullish
as
expected
since
it
continues
to
struggle
to
break
out
of
$0.15.
However,
it
has
not
eroded
expectations
for
the
meme
coin
as
crypto
analysts
continue
to
predict
that
its
price
still
has
room
to
rally.

 

Crypto
Scient
is
the
latest
in
the
long
line
of
analysts
who
believe
this,
expecting
the
meme
coin
to
flip
bullish
at
some
point.
As
he

explains,
once
the
Dogecoin
price
flips
bullish,
it’ll
trigger
the

start
of
another
meme
coin
mania
as
other
meme
coins
start
to
move
with
it,
similar
to
what
was
seen
in
February
2024.

The
crypto
analyst
points
to
a
break
above
$0.15
that
could
trigger
another
rally
toward
$0.2.
Then,
after
this,
he
expects
the
meme
coin
to
break
and
flip
once
again,
but
this
time
around,
it
is
the
$0.175
level.
At
this
point,
Crypto
Scient
expects
a
continuation
signal
for
further
upward
rallies.

As
for
price
targets,
the
top
of
the
analyst’s
target
sits
at
$0.34.
From
the
current
level
of
around
$0.155,
it
would
mean
an
over
100%
increase
from
here.
However,
even
achieving
this

 

price
point
would
still
put
it
around
50%
below
its
all-time
high
price
of
$0.7.

DOGE
Metrics
Flipping
Bullish

Despite
its
price
not
performing
as
well
as
investors
hoped,
the
steady
rise
in

bullishness
in
Dogecoin
metrics
suggests
that
the
meme
coin
could
end
up
seeing
a
delayed
rally.
One
of
these
metrics
is
the
open
interest.

Over
the
last
24
hours
alone,
the
Dogecoin
open
interest
has
risen
by
over
10%
to
$869.54
million,
according
to

data
from
Coinglass.
This
suggests
a
steady
rise
in

interest
in
the
altcoin
among
traders
who
are
not
open
more
positions
on

the
meme
coin.
Historically,
whenever
open
interest
started
rising,
the
DOGE
price
has
followed
as
well.

Another
metric
that
has
seen
a
bullish
reversal
is
the

Dogecoin
daily
trading
volume.
CoinMarketCap’s

data
shows
that
DOGE’s
daily
trading
volume
has
also
seen
an
11%
increase
during
the
last
day,
rising
above
$1.8
billion.

If
these
metrics
hold
and

Dogecoin
eventually
flips
bullish
as
Crypto
Scient
predicts,
then
a
rally
similar
to
what
was
seen
in
February
could
easily
push
it
toward
$0.4.
However,
for
now,

 

the
meme
coin
continues
to
struggle
at
$0.154,
indicating
a
small
3.24%
increase
in
the
last
day.

Chart
from
Tradingview.com

Go to Source
Author: Scott Matherson

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