Dogecoin Price Eyes a 50% Jump as Key Catalysts Align

2026-01-13 22:41:23

Source: CryptoNewsNet Original Title: Dogecoin price eyes a 50% jump as key catalysts align Original Link: Dogecoin (DOGE) token rose to $0.1425, up by ~25% above the lowest level this year. This rebound brought its market capitalization to over $23 billion.

Price Movement and Market Sentiment

Dogecoin rose by nearly 5% on Tuesday as crypto prices rebounded. The main reason why the DOGE price jumped is that investors embraced a risk-on sentiment after the US released the December consumer inflation report, which showed that the core CPI dropped from 2.7% to 2.6%. Traders also reacted to regulatory developments in the crypto space.

ETF Inflows and Futures Activity

Dogecoin price gained as demand for DOGE ETFs rose modestly. Data shows that the cumulative inflows into major spot DOGE ETFs rose to $6.58 million, bringing their net assets to nearly $10 million. They have added $4.28 million in assets this month, a 2,290% increase from December’s $177k.

Dogecoin price also rose as the futures open interest rose to over $1.7 billion from Monday’s $1.6 billion. Open interest has been in a slow uptrend since bottoming at $1.26 billion in November. Rising open interest is bullish, as it signals that investors are using leverage to buy. The volume in the spot market also jumped to over $1.1 billion.

Technical Analysis Outlook

The daily timeframe chart shows that Dogecoin has solid technicals that may push it higher in the coming weeks or months. It has already flipped the Supertrend indicator from red to green for the first time since September last year.

The coin also formed a small bullish flag pattern, consisting of a vertical line and a descending channel. It has now moved above the upper side of the channel.

DOGE has also moved above the 25-day Exponential Moving Average, a sign that bulls are prevailing. It also formed a large falling wedge pattern between October and January 1.

Most importantly, it has entered the second phase of the Elliott wave pattern, followed by the bullish third phase.

Price Target

Therefore, the token will likely continue to rise, with the primary target at $0.2095, its highest level on Oct. 27, nearly 50% above the current level.

DOGE-3,12%

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