The Dogecoin price has not quite been able to replicate its late-2024 form so far in 2025, trading below the $0.2 level for most parts of the year. After a somewhat rough start to the month of June, the meme coin appears to be recovering nicely, jumping above $0.18 on Friday, June 6.
Interestingly, the Dogecoin price seems to only be at the start of what is expected to be an extended upward rally. According to a blockchain firm CEO, the “king of meme coins” is about to witness a price explosion.
Four Reasons Why DOGE Price Is Ready To Take Off
In a June 6 post on the social media platform X, Alphractal CEO and founder Joao Wedson offered on-chain insights into why the Dogecoin price could be perfectly positioned to embark on a parabolic run. The crypto expert provided four reasons why investors should watch out for the DOGE token.
Firstly, the 500-day Aggregated Liquidation Level reveals that a large amount of liquidity ($350 million) was trapped around the $0.5 level the last time the DOGE price experienced a major correction. According to Wedson, the Dogecoin price tends to surge months after shorts pile up.
Wedson also highlighted that the price of Dogecoin against Bitcoin is closing in on a crucial technical level. As shown in the chart below, the DOGE/BTC is almost at a historical support — one which served as a bullish springboard to new highs in the 2021 cycle, with the meme token outperforming Bitcoin.
Source: @joao_wedson on X
Furthermore, Wedson alluded to a broader catalyst for a potential performance of the Dogecoin price over the next few months. The crypto CEO mentioned that the Meme Index, containi
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Author: Opeyemi Sule
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