Category: Crypto News, News
If Bitcoin Explodes to $250K, This Is How High Dogecoin Could Soar!
Jakarta, Pintu News – Dogecoin price forecasts remain optimistic after recording a daily gain of 5% and a monthly surge of 42.5%, as Bitcoin adoption by sovereign nations drives market sentiment.
Bitcoin Signals from Saudi Arabia Lift Dogecoin and Memecoin Markets
On May 16, the Central Bank of Saudi Arabia confirmed the purchase of 25,656 shares in the company Strategy (formerly MicroStrategy), which is known to hold more than 200,000 BTC.
The $10.2 million investment coincided with former US President Donald Trump’s diplomatic visit to Riyadh and was widely seen as an indirect signal of Bitcoin adoption by the oil-rich kingdom.
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This development is considered a significant milestone in Bitcoin accumulation by sovereign nations and instantly revived the crypto market. Ethereum rose 3% on Sunday and broke the $2,550 level again, accompanied by a jump in trading volume from $12.5 billion to $15 billion.
Bitcoin itself is again testing the $105,000 level, fueled by speculation that other sovereign wealth funds may follow Saudi Arabia’s lead, which could trigger a price increase to a new record in the coming week.
Long-term predictions such as those from entrepreneur Robert Kiyosaki even target Bitcoin’s price to reach $250,000 before the end of 2025.
However, amid the spotlight on Bitcoin and Ethereum, the Dogecoin price quietly rose another 5% on Sunday. Interestingly, DOGE’s 42.5% surge in the last 30 days even surpassed BTC and ETH’s performance on a monthly timeframe.
Dogecoin Correlation with Bitcoin: What History Can Teach Us
Dogecoin has long mirrored Bitcoin’s movements, often even amplifying price direction changes, especially in the highly speculative phases of the crypto market cycle.
In early 2021, when the price of BTC jumped from $30,000 to $64,000, DOGE skyrocketed by more than 900% along with the major crypto asset.
The rise in DOGE back then was not driven by fundamentals, but rather by positive sentiment and increased market liquidity flowing from the BTC rally – two factors that are now making a comeback.
With Bitcoin’s dominance back on the rise and macro catalysts such as institutional investment flows from countries like Saudi Arabia in the spotlight, Dogecoin is expected to follow every parabolic surge made by Bitcoin.
In addition, Strategy’s CEO, Michael Saylor, hinted at the potential next Bitcoin buy in a post on X (formerly Twitter) on May 16. This further reinforces investors’ belief that the “whales” are gearing up for a potential long-awaited supply shortage.
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As long as BTC remains in a bullish market structure and continues to attract macro attention, Dogecoin will likely benefit disproportionately due to its historical sensitivity to inflows from retail investors and a boost from social momentum.
Dogecoin Price Prediction If Bitcoin Reaches $250,000
If Bitcoin manages to reach the $250,000 level – or an increase of around 285% from its current price – then Dogecoin could potentially experience a parabolic rally, reflecting its high historical correlation to BTC movements.
Based on the multiplicative pattern in the previous bull market cycle, with a conservative correlation factor of 3.5x, the price of DOGE is expected to be in the range of $0.78 to $0.85, in line with the previous cycle peak.
This projection assumes stable liquidity conditions, continued positive market sentiment, and active participation from retail investors.
In the short term, psychologically important levels such as $0.30 and $0.50 are expected to be temporary resistance areas in Dogecoin’s price rally attempt.
However, the increasing race for Bitcoin accumulation by countries and corporate institutions may accelerate this momentum.
The latest MicroStrategy stake purchase by Saudi Arabia has the potential to elevate Bitcoin’s status as a sovereign-grade asset, while strengthening the legitimacy of crypto in the global trading system.
In this context, Dogecoin again has the potential to become a major speculative asset that gets boosted by the rally triggered by Bitcoin.
Dogecoin Price Prediction Today: Bullish, But Faces Short-Term Resistance at $0.25
Dogecoin’s recovery from the price drop on May 13 is now showing a bullish formation above the $0.21 support level, confirming the uptrend continuation signal on the daily chart.
As of May 18, DOGE is trading around $0.2255, recording a daily gain of 5.13%, and moving above the Parabolic SAR baseline ($0.2107) as well as the 100-day SMA ($0.1938) – indicating that the short-term trend is still to the upside.
The Parabolic SAR dots that are now below the candles indicate the return of the uptrend, supported by the weakening selling pressure on the MACD histogram.
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Although the MACD line (0.0142) is slightly curved downwards, its position is still above the signal line (0.0133), which means that the bullish momentum has not been lost and the possibility of further upside is still open.
In the current consolidation phase, the 150-day SMA at $0.2405 becomes the next significant upside obstacle.
If DOGE is able to break the level with a convincing daily close, a quick move towards $0.2650 is highly likely due to the interest from momentum market participants.
On the contrary, if it fails to break $0.24, the price is likely to retest $0.2100, which is the key point to keep the bullish scenario in place.
Overall, today’s Dogecoin price prediction still leans bullish as long as the price stays above $0.21. The constructive positioning of the moving averages, as well as the weak bearish divergence, provide grounds for a possible retest of the $0.24 level this week.
Further upside will depend on the overall crypto market sentiment, specifically whether Bitcoin is able to maintain a position above $105,000.
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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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