#AltcoinBreakout
Regarding the reasons behind this strategy, Bit Origin's CEO, Jinghai Jiang, highlighted the potential of Dogecoin to revolutionize micropayments, as well as its potential future institutional adoption, which could make it a strategic long-term asset.
Asset tokenization could reach US$ 16 trillion by 2030.
Dogecoin broke strongly through the barrier of US$ 0.25, a level that served as fundamental resistance for months. This breakout creates a bullish scenario on the charts, although it is currently in correction after reaching a five-month high.
Resistance levels to keep in mind:
US$ 0.274: immediate resistance, corresponding to the daily high.
US$ 0.287: Major resistance, coinciding with the previous day's high and the five-month high.
US$ 0.300: A key psychological level. Breaking above this level may allow for consolidation above it.
Support levels to observe:
US$ 0.257: immediate support and daily low, aligned with EMA 200.
US$ 0.237: Intermediate support, corresponding to the low of July 19. Although not a solid line, it is associated with increased buying activity.
US$ 0.208: A more robust psychological support level to watch.
The RSI is oscillating around 50 points, indicating a consolidation phase, with a balance between upward and downward pressure.
Relevant data about Dogecoin:
In the last quarter, Dogecoin rose more than 50%, marking its best performance in several years and positioning itself as one of the fastest-growing assets in the recent cryptocurrency ecosystem.
Despite the daily correction, DOGE led weekly gains among the 20 most valuable cryptocurrencies by market capitalization.
The prediction platform Polymarket estimates there is an 80% chance that the SEC will approve a Dogecoin ETF. This optimism is fueled by the recent approval of similar funds for Ethereum and XRP, which has further increased interest in DOGE.
Analysis: Key Levels to Watch on DOGE Charts
