PANews reported on January 7 that according to CoinDesk, the number of open contracts in the Dogecoin (DOGE) futures market hit a new high of 10.35 billion DOGE, exceeding the peak of 10 billion DOGE in March 2024. Historical data shows that January is the best performing month for DOGE, with an average return of 85%. Technical indicators show that DOGE's 50-day simple moving average (SMA) has broken through, indicating a bullish trend. Analysts predict a short-term target price of 50 cents, and some big players are optimistic about reaching the goal of $1 in 2025.
In addition, the surge in whale transactions worth more than $100,000 further indicates rising demand. The analysis also pointed out that trading volume is lower than the peak in 2021, and investors need to be cautious about the current resistance level of 40 cents.
