Analysts Signal Potential Dogecoin Price Surge After Breaking Key Resistance
Dogecoin has surpassed the $0.22 mark this week, breaking free from a consolidation range that persisted since mid-2022. In a recent X post, trader Kamran Asghar pointed to a recurring pattern that historically triggered significant price rallies. His analysis highlights a double bottom formation, a bullish indicator often confirmed by a breakout above resistance.
Asghar’s chart marks three blue zones, each showing periods of accumulation with stable price action, followed by sharp upward breakouts after clearing key resistance levels. A similar breakout in the past propelled Dogecoin to its all-time high of $0.7316. Since 2022, the price has oscillated between $0.055 and $0.22, with the recent move above $0.22 signaling a potential early breakout.
Currently, Dogecoin trades at $0.2216, down 4.1% in the last 24 hours and 15.4% over the past week. Despite this, the memecoin has posted a robust 34% gain over the past month, riding the broader market’s upward momentum.
🔸 Analyst Forecasts 226% Price Jump
Trader Javon Marks echoed this optimism, identifying a similar pattern of accumulation and breakouts in Dogecoin’s price history. His analysis flags the current breakout zone near $0.22, mirroring setups that preceded major rallies. Marks predicts a potential 226% surge, targeting a retest of the all-time high at $0.73905. He also outlined ambitious targets of $1.42 and $2.11, implying gains exceeding 830% from current levels.
Other analysts share the bullish sentiment. Jireon noted that Dogecoin confirmed a double bottom breakout with a neckline at $0.231, backed by a $4 billion volume spike. Jonathan Carter added that the price successfully retested the breakout level and bounced from the 200-day moving average, reinforcing the bullish outlook.
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