- Dogecoin price eyes 45% gains as investors continue accumulating the meme coin across cryptocurrency exchanges.
- Robinhood, a commission-free stock and crypto trading firm, holds a third of the Dogecoin supply.
- Analysts are bullish on the meme coin, considering $0.18 the make or break point for the Dogecoin price rally.
Dogecoin price could take a bullish turn, driving the meme coin's price higher as investors accumulate DOGE on exchanges. The commission-free cryptocurrency exchange Robinhood has accumulated Dogecoin on behalf of investors.
Dogecoin price could climb higher, according to analysts
Dogecoin price could break into an uptrend soon as investors across exchanges scoop up DOGE. Accumulating the meme coin has pulled it off the circulating supply across cryptocurrency exchanges. Commission-free exchange Robinhood's wallets hold a third of the Dogecoin supply, held for investors on the exchange.
The commission-free exchange holds the meme coin in eight wallet addresses on behalf of traders on its platform.
Historically, when investors hold Dogecoin in their wallets, the meme coin is pulled out of supply, reducing the circulating supply. A reduction in supply could fuel a rally in Dogecoin.
Robinhood is holding $5,103,183,345 worth of the meme coin. This accounts for 42.3 billion DOGE tokens, stores across eight known addresses.
The wallet balance makes up 31.90% of the Dogecoin supply.
Analysts have evaluated the Dogecoin rice trend and predicted a rally in the meme coin.
FXStreet analysts believe that Dogecoin price could post 45% gains, the trend turns bullish. Analysts believe that $0.18 is the make-or-break zone for the Dogecoin price.
In October 2021, the mass capitulation zone started below $0.18; this makes it a critical psychological level for Dogecoin price.
The meme coin's price dropped lower every day after dropping below $0.18. Therefore analysts argue that above $0.18, the Dogecoin price could reveal bullish momentum and climb higher, posting 35% gains.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Monero Price Forecast: XMR soars over 19% amid rising demand for privacy coins
Monero (XMR) price is extending its gains by 19% at the time of writing on Monday, following a 9.33% rally the previous week. On-chain metrics support this price surge, with XMR’s open interest reaching its highest level since December 20.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC and ETH stabilize while XRP shows strength
Bitcoin and Ethereum prices are stabilizing at around $93,500 and $1,770 at the time of writing on Monday, following a rally of over 10% and 12% the previous week. Ripple price also rallied 8.3% and closed above its key resistance level last week, indicating an uptrend ahead.
Ethereum Price Forecast: ETH ETFs post first weekly inflows since February
Ethereum (ETH) recovered the $1,800 price level on Saturday after US spot Ether ETFs (exchange-traded funds) recorded their first weekly inflows since February.
Defi Development Corporation files to offer $1 billion in securities to boost its Solana holdings
Defi Development Corporation (formerly Janover) filed a registration statement with the Securities & Exchange Commission (SEC) on Friday, signaling its intent to offer and sell a wide range of securities, including common and preferred stock, debt instruments and warrants for the purchase of equity
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin (BTC) price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.