Dogecoin (DOGE) Surge Forecast: 14% Rise by Jan 1

• Currently Dogecoin (DOGE) is being traded at $0.1385 meaning that the price has gone up by 2.28% in a day and the market is showing extreme fear.
• Analyzing the long-term indicators shows a huge volatility: a 4,000% hike in 2017, a 74% decrease in 2018 and average annual growth of 650%.
• The short-term negative market sentiment did not deter the price prediction models that still foresee an increase to $0.1553 by January 1, 2026.

Today, Dogecoin (DOGE) is priced at $0.1385. It is accompanied by a trading volume of $2.13 billion, a market capitalization of $21.05 billion, and a market share of 0.70%. It registered an increase of 2.28% in the previous day, which is a minimal increase, but still a rise, in a market where uncertainty prevails.

The Fear & Greed Index currently indicates a level of 23, which is very much in the Extreme Fear category. Investors are feeling the chill of the market winds.

Dogecoin and the Weight of Its Past

An extensive and turbulent history characterizes it. Dogecoin’s maximum value was on May 8, 2021, when it hit $0.7386, a figure that was perceived as the top of a radiant hill. Its valley is situated very far away on May 7, 2015, at the price of $0.00008547. After reaching the maximum of its cycle, the value dropped to $0.04970, and then the cycle high went up to $0.4806. The volatility drew a story of an indestructible coin.

A total supply of 152.01 billion DOGE and an annual inflation rate of 3.40% meant that the market had almost 5 billion new tokens created last year.

Nevertheless, Dogecoin has not only maintained its steady expansion but also secured notable places in the market sectors, ranking as the second-largest Proof-of-Work coin, the number one asset in the Meme Coin category, and the seventh-largest project in the overall Layer 1 ecosystem.

The cryptocurrency Dogecoin had its best year in 2017 when it went up by as much as 4,000%. On the contrary, 2018 was its worst year when the price dropped by 74%. During its 13-year existence, the average growth rate was 650% per annum, being the most during Q1 with 96.43% on average and then gradually dying down to 4.68% in Q3.

Also Read: Dogecoin Eyes Potential Recovery Amid Cup and Handle Formation

Dogecoin and the Road Ahead

Dogecoin is buying and selling on 138 exchanges, of which Binance and KuCoin do most of the trade. It had 10 days with increases in price and 30 days in total in the last month, resulting in a volatility of 7.95%.

Technical indicators give a slow price increase scenario: a 13.95% increase to $0.1553 by January 1, 2026.

The 50-day simple moving average (SMA) is going towards $0.1503 while the 200-day SMA could go down to $0.1986 by that time as well. The RSI reading is 33.36, which means it is in the neutral zone. The market seems to be in a waiting mode while keeping an eye on the situation.

The major support areas are $0.1301, $0.1245, and $0.1165. On the other hand, the resistance levels are at $0.1436, $0.1516, and $0.1572 respectively.

Dogecoin is a cryptocurrency that behaves like the market. Its positive correlations with major cryptocurrencies are very high, 0.933 with the top 10 and 0.793 with the top 100. When the market exhales, Dogecoin exhales. When the market goes, Dogecoin gets ready.

Also Read: Dogecoin Price Surge? DOGE Eyes $0.27 After Weekly Gains: Is $1 Possible?