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A recent technical report indicates Dogecoin (DOGE) could be on the verge of a significant price increase in the next few months. The meme coin, which is now trading at $0.17, has recorded a 10% gain in the last week and continues to be up 11% over a 14-day period.
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Bullish Divergence Indicates Possible Upswing
Based on Crypto Bio’s analysis, two separate bullish divergence patterns have emerged on Dogecoin’s chart. The first was seen between June and August 2024, when prices fell to between $0.07 and $0.09 while the Relative Strength Index (RSI) made higher lows. It was followed by a large-scale rally that saw DOGE rise above $0.40 by December 2024.
Another pattern with a similar scenario has been developed between the periods of March and April 2025. Although Dogecoin’s value printed lower lows near $0.1300, the RSI once more produced higher lows. Based on such technical features, certain experts anticipate that DOGE might find itself at $0.5 over the coming two or three months.
The Math Behind ‘Dogecoin Millionaires’
There are discussions about new ‘Dogecoin millionaires’ that have excited investors. The figures, though, paint a more serious picture. Assuming a price of $0.5, a $10,000 investment would become around $27,530 – a gain of $17,530.
$DOGE is waking up. The same signs, the same setup.
Millionaires will be made in the next 2-3 months!🔥#DOGECOIN 🚀🚀 pic.twitter.com/mKQjjglJiO
— Crypto Bio (@CryptoBio_) April 27, 2025
In order to actually become a millionaire if DOGE reaches $0.5, an investor would need to have around 2 million coins, currently valued at around $360,000. According to Crypto Bio, given all these figures and probabilities, “millionaires will be made in the next two to three months.”
This reality check underscores the vast amount of money required to meet the ‘millionaire’ goal that is utilized to recruit prospective investors in the cryptocurrency.
Technical Support From Parabolic Trendline
Another analyst, “abermix,” notes that Dogecoin is presently riding a long-term parabolic trendline that started around $0.05 during 2022-2023. Although there were numerous tries to fall below this curve at different price levels ($0.06, $0.08, and $0.14), DOGE has repeatedly jumped back to hold ground above the line.
$doge is conforming to this parabolic trendline at the moment
idk if it’s valid but it looks like it xD
can we expect a bounce soon?#Dogecoin pic.twitter.com/moQHd7WCpt
— abermix (@abermixcrypto) April 27, 2025
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The price is trading slightly below both short-term and long-term exponential moving averages (EMAs) currently. Experts believe that a breakout above $0.20 will validate a larger trend reversal and open the doors for further advances.
Falling Wedge Formation Adds To Bullish Outlook
According to April 25 reports, Dogecoin has extricated itself from a “falling wedge” formation that had placed it in a downtrend for many months. Previous levels of resistance were tested in February at $0.28 and April at $0.16.
Market observers comment that although these technical indicators look encouraging, cryptocurrency prices are extremely volatile. The present price movement comes after several months of horizontal trading following DOGE’s peak at $0.19, and any investment choice should account for the volatility of the market.
Featured image from Gemini Imagen, chart from TradingView