Cryptocurrency analyst Cryptokijker has revealed that the price of Dogecoin is preparing to break out amid significant whale accumulation. The analyst also disclosed the price target that DOGE could reach after this breakout.
Dogecoin Preparing to Break Above $0.17
In a post on TradingView, Cryptokijker predicts that the price of Dogecoin is preparing to break above $0.1790. The analyst reveals that the target for this potential breakout is $0.1840 and $0.1920. He notes that the price at this level is showing a neutral-bullish structure following the recent breakout above the previous daily low (PDL).
The analyst also highlights a hidden bullish divergence detected on the Relative Strength Index (RSI), indicating strength beneath the surface. This Dogecoin price prediction comes amid whales aggressively accumulating DOGE. He notes that smart money has been accumulating heavily in the discount range from $0.15 to $0.16, supporting this bullish trend.
The analyst observes that the structural breakout on the chart signals the beginning of a bullish phase. He further comments that the volume profile supports the transition from accumulation to expansion. Meanwhile, strong support confirmed at the $0.1760 area aligns with previous discount accumulation levels, and the bullish momentum above the PDL suggests that the price of Dogecoin may sustain this upward trend.
Market participants will also be watching the psychological level of $0.20 for the price of Dogecoin in this potential breakout. Cryptocurrency analyst Ali Martinez reveals that DOGE could rise to an all-time high (ATH) if it can secure a monthly closing above $0.20. The analyst comments that such a breakout would signal strong bullish momentum and could attract investor interest.
Notably, cryptocurrency analyst Master Kenobi recently also predicted that the price of Dogecoin could reach a new ATH in June. He stated that the top meme coin could reach as high as $0.90 when it rises to a new ATH.
Other Factors Supporting DOGE's Breakout
Cryptocurrency analyst Trader Tardigrade claims that the price of Dogecoin will soon surge, pushing the meme coin higher. This comes as he notes that DOGE has been moving between different ranges, experiencing both crashes and fake breakouts. The analyst adds that the meme coin has now returned to the current range, setting the stage for a price breakout.
In another post on X, Trader Tardigrade reveals that the price of Dogecoin is forming a diamond on the trendline at around $0.15. Based on this, he asserts that everything is going well with DOGE and urges market participants to wait for the next breakout.
