Dogecoin has the opportunity to rise 60% from its current price level. However, it must first break through the current upward channel at around $0.243 to initiate this strong upward trend.
Dogecoin's target price has risen to $0.4.
Once it breaks through the resistance around $0.243, Dogecoin's price is likely to surge to $0.4. If the trading volume is strong enough during this period, the market can continue to rise steadily.
If Dogecoin really hits $0.4, market sentiment will become super bullish. The next targets of $0.75 and $1 will not be far off, and by that time, this leading meme coin will refresh its all-time high and set new records.
Dogecoin sometimes lags behind other meme coins, but this time it's different. Its price is expected to rise significantly, and it is “likely to become the leader among meme coins in the coming weeks.” Dogecoin now appears to be leading, being one of the biggest gainers in this round of the crypto market rebound.
Dogecoin has broken through the psychological barrier of $0.2, and it is very likely to break through a new high of $0.42 in the coming weeks. Another positive factor is that the potential issuance of a Dogecoin ETF is in the works, providing fundamental support for price increases. The probability of the SEC approving these funds this year is as high as 90%, which is a huge positive for DOGE.
It's just a matter of time before DOGE rises.
Dogecoin's price has now rebounded to between $0.28 and $0.30, even “far exceeding” this step. As long as Bitcoin remains strong and continues to perform well, Dogecoin's upward momentum can quickly be realized.
From a technical perspective, the DOGE/BTC trading pair has formed a “cup and handle” pattern and has successfully broken through a key trend line. This is a classic bullish signal, indicating that Dogecoin may perform better than Bitcoin. The current price momentum is strong, consistent with previous predictions that Dogecoin is likely to see a “moon candle” (significant rise) on the BTC trading pair soon.
At the time of writing this, Dogecoin's price is approximately $0.24, having risen 14% in the past 24 hours.
