Dogecoin Set for Explosive 60% Breakout Move! đ
Dogecoin is eyeing a major breakout that could launch its price 60% higher from current levels. The key lies in breaking above the upper boundary of its ascending trend channel.
đ Breakout Target: $0.40
If DOGE can break past the $0.243 resistance, it could rally toward $0.40. Analysts say rising trading volume could be the fuel needed to propel the price. Once $0.40 is breached, forecasts stretch to $0.75 and even $1 â setting the stage for new all-time highs.
Although DOGE has lagged behind newer meme coins recently, market watchers believe itâs poised for a comeback. Reclaiming the critical $0.20 level has reignited bullish sentiment, with potential for a climb past $0.42 in the near term.
đĄ Whatâs Fueling the Hype?
Talks of upcoming Dogecoin ETFs are building optimism. Bloombergâs James Seyffart and Eric Balchunas estimate a 90% chance of ETF approval this year â a major catalyst that could significantly boost DOGEâs fundamentals.
Key price levels to monitor: $0.28â$0.30 range first, with further upside if Bitcoin maintains strength.
On the technical side, the DOGE/BTC pair just broke its trendline and is now forming a Cup-and-Handle pattern â a classic bullish indicator. Analysts expect DOGE to potentially outperform Bitcoin soon. Notably, trader Tardigrade has hinted that a dramatic âGod candleâ could be on the horizon for DOGE/BTC.
Dogecoinâs momentum is building fast â and this breakout could be the start of something huge.