The movement of DOGE in BitOrigin has generated a quick response from market analysts. Some traders believe that the technical signals indicate potential for additional gains. In its daily chart, Dogecoin recently broke a long-standing resistance level. The RSI indicator maintained its momentum without showing bearish divergence.
As market confidence rises due to the interest of institutional buyers like BitOrigin, the well-known cryptocurrency analyst GalaxyBTC pointed out the early stages of what could be a new DOGE cycle.
Trader Alan, known online as Trader Tardigrade, highlighted that even if DOGE pulls back to retest support near $0.25, this could set the stage for a healthy rally targeting $0.31 or even $0.42.
