Is Dogecoin Poised for Another 50% Surge? (Analyst)

TL;DR

The OG meme coin has recovered yesterday’s losses and is again above $0.24, with a preferred analyst declaring that the following main resistance is 50% larger than its present ranges.
At the identical time, on-chain knowledge reveals that leveraged merchants proceed to construct huge DOGE positions.

On-chain knowledge exhibits #Dogecoin $DOGE faces main resistance at $0.36, whereas the important thing assist zone to observe sits at $0.21. pic.twitter.com/qIABWXmkKd

— Ali (@ali_charts) May 14, 2025

In order to achieve the primary main resistance outlined by Martinez, DOGE must outperform its weekly worth surge, which noticed it acquire 40%. Recall that the oldest meme coin struggled at round $0.165 till this time final week, when the general market turned bullish and DOGE rode the wave in a powerful method, surging to a multi-month peak of $0.26.

Yesterday’s correction, which pushed it south to Martinez’s key assist zone of below $0.22, has been erased to a big extent, and DOGE now sits at $0.245.

Meanwhile, Glassnode mentioned yesterday that the DOGE Futures Open Interest surged by nearly 64% prior to now week, going nicely above $1.6 billion. This signifies that the quantity of open brief and lengthy leveraged positions has skyrocketed, which comes at an intriguing time when DOGE’s rally cooled off.

According to the analytics firm, such a speedy improve within the Open Interest throughout worth pullbacks signifies that merchants proceed to construct speculative positions, which might lead to enhanced volatility as soon as the market heads decisively in both path.

Despite $DOGE pulling again from its latest excessive, Futures Open Interest continues to rise, up +63.9% over the previous week ($989M → $1.62B). This decoupling suggests persistent speculative positioning, at the same time as worth momentum fades – a setup value monitoring: https://t.co/N343pGpptL pic.twitter.com/icOVcqDffA

— glassnode (@glassnode) May 13, 2025