Dogecoin continues to capture the attention of retail traders due to its popularity, with recent large investor actions fueling hopes for a significant price increase.

Dogecoin to Hit $0.37 by October End

Over the past week, Dogecoin has seen an impressive 22% increase, with its 24-hour trading volume soaring to $1.9 billion, a jump of 35%. Currently, Dogecoin is trading around $0.14, reflecting an increase of about 3% in the last 24 hours. Analysts note that long-term investors remain optimistic, suggesting that Dogecoin's price could rise soon. Holder profitability recently reached a four-month high, with 81% of all circulating DOGE in profit.

Long-Term Potential for Dogecoin

Analysts are also optimistic about Dogecoin's future. Crypto analyst Crow suggested that Dogecoin might eventually break the $1 mark. This view is supported by whale activity; one investor recently purchased 155.11 million DOGE, worth $21.65 million, through Robinhood Markets.

Dogecoin Price Analysis

Analyzing the price trends, Dogecoin has been on a bullish path lately. Meanwhile, the rising 50-day moving average indicates strong short-term momentum. However, some bearish sentiment remains, as the Fibonacci retracement tool suggests a potential dip to around $0.1322. If the upward trend continues, analysts believe Dogecoin’s price could rebound and surge toward the $0.37 target, with key levels of $0.18, $0.23, and $0.29 along the way in the next two weeks.

Dogecoin continues to show significant growth potential both in the short and long term, supported by large investors and analysts' optimistic forecasts.