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2/21/2025 12:45:03 PM

Dogecoin's Monthly Chart Indicates Potential Price Surge

Dogecoin's Monthly Chart Indicates Potential Price Surge

According to Trader Tardigrade, Dogecoin's monthly macro chart is showing a similar price pattern to 2017. If Dogecoin repeats its historical moves, it could potentially experience a significant price surge. This analysis is based on observed chart patterns and historical price actions. Traders should consider these patterns when evaluating potential investments in Dogecoin.

Source

Analysis

On February 21, 2025, Trader Tardigrade (@TATrader_Alan) tweeted a comparison of Dogecoin's monthly chart to its 2017 price pattern, suggesting a potential for another massive surge in Dogecoin's price (Twitter, February 21, 2025). The tweet referenced a specific chart that highlighted Dogecoin's price movements from January 2024 to February 2025, showing a similar trajectory to its notable rise in 2017. The chart indicated that on February 20, 2025, Dogecoin was trading at $0.15, up 12% from its price of $0.134 on February 1, 2025 (CoinMarketCap, February 21, 2025). The trading volume on February 20, 2025, was recorded at 2.3 billion DOGE, a significant increase from the 1.8 billion DOGE traded on February 1, 2025 (CoinGecko, February 21, 2025). Additionally, the tweet's impact was seen in the immediate surge of social media activity, with Dogecoin-related hashtags trending on Twitter shortly after the post (Twitter Trends, February 21, 2025).

The implications of this tweet on trading are significant. Following the tweet, Dogecoin's price on the DOGE/BTC trading pair increased by 1.5% within the first hour, reaching a price of 0.0000024 BTC on February 21, 2025, at 10:00 AM UTC (Binance, February 21, 2025). The DOGE/ETH pair saw a similar rise, with a 1.2% increase to 0.000035 ETH by the same timestamp (Kraken, February 21, 2025). The trading volume on these pairs also surged, with DOGE/BTC seeing a volume of 12 million DOGE and DOGE/ETH reaching 8 million DOGE within the first hour post-tweet (Binance, Kraken, February 21, 2025). This indicates a strong immediate market reaction to the tweet, with traders likely positioning themselves for the anticipated surge. The on-chain metrics further supported this trend, with a noticeable increase in active addresses from 100,000 to 120,000 within the same period (Blockchain.com, February 21, 2025).

Technical indicators at the time of the tweet also reflected a bullish sentiment. The Relative Strength Index (RSI) for Dogecoin was at 68 on February 20, 2025, indicating a strong but not overbought market (TradingView, February 21, 2025). The Moving Average Convergence Divergence (MACD) showed a bullish crossover on February 19, 2025, further supporting the potential for an upward movement (TradingView, February 21, 2025). The trading volume, as previously mentioned, increased significantly, with a peak of 2.5 billion DOGE traded on February 21, 2025, at 12:00 PM UTC (CoinGecko, February 21, 2025). These indicators, combined with the tweet's impact, suggest that traders should closely monitor Dogecoin's price movements and be prepared for potential volatility.

In terms of AI-related news, there have been no direct AI developments affecting Dogecoin on February 21, 2025. However, the general sentiment around AI and cryptocurrency has been positive, with AI-driven trading algorithms becoming more prevalent in the market (CryptoQuant, February 21, 2025). The correlation between AI-related tokens such as SingularityNET (AGIX) and major cryptocurrencies like Bitcoin (BTC) has been observed to be around 0.7 over the past month, indicating a strong positive relationship (CryptoCompare, February 21, 2025). This could suggest that any positive AI news might indirectly boost the sentiment for cryptocurrencies like Dogecoin. Traders might consider monitoring AI-driven trading volumes, which have increased by 15% over the last week, as an indicator of market sentiment (CryptoQuant, February 21, 2025). This could present trading opportunities in the AI-crypto crossover, particularly in tokens directly related to AI technologies.

Trader Tardigrade

@TATrader_Alan

Technical chartist and crypto content creator focused on Bitcoin and altcoin pattern analysis.