Dogecoin can grow by 25% - CoinGlass

Dogecoin DOGE $0.19 Binance-Peg Dogecoin -5.87% Market capitalization $0.49 billion VOL. 24 hours $0.22 billion is once again in the spotlight after a strong breakout through a local resistance level, which has sparked hopes for further growth in the crypto community. Currently, the key goal is to gain a foothold above $ 0.1985 at the daily close, which could open the way to a 25% increase to $ 0.25.

Analysts note that the market looks mostly bullish. CoinGlass data shows that the volume of «long» liquidations exceeded $ 22.64 million (compared to $ 18.85 million for «short» liquidations). The main positions are concentrated in the range of $ 0.1876-$ 0.1984, which can play the role of a «liquidation magnet» for shorts and provoke even greater growth.

Nevertheless, a large transfer is of concern: an unknown whale moved 155 million DOGE to the Robinhood exchange. Such transactions often signal selling intentions and can slow down growth if the market does not receive additional demand.

However, spot market data is encouraging. Over the past 24 hours, there has been a $ 6.32 million outflow of DOGE from exchanges, which is usually a sign of accumulation and support for a bullish trend.

At the time of analysis, the price of DOGE was about $ 0.195, showing an increase of more than 6.5% per day. At the same time, trading volumes increased by 65%, and the breakout of the downtrend on the charts indicates an intention to test the $ 0.1985 level.

So, if the price can close above this key level, Dogecoin will have a chance to grow further up to $ 0.25 — with a potential profit of 25% from current values.