The world’s largest meme coin, Dogecoin Breakout Ready, has once again attracted the attention of crypto enthusiasts and analysts as the digital asset displays signs of a potential breakthrough. Even though DogeDogecoin has been having trouble breaking the $0.15 barrier as of late, several indicators suggest a possible big jump, which would cause the meme currency frenzy to escalate.
TLDR
- Analysts predict that Dogecoin is set for a breakout, which could trigger another meme coin mania similar to what was seen in February 2024.
- DogeDogecoin’sce is struggling to break above $0.15, but bullish metrics like rising open interest and daily trading volume suggest a potential delayed rally.
- Crypto analyst Crypto Scient expects Dogecoin to break above $0.15 and rally towards $0.2, with a potential continuation signal towards $0.34, representing over a 100% increase from current levels.
- Dogecoin recently broke above the $0.153 resistance level and the 200 Simple Moving Average (SMA) in the 4-hour timeframe, which could lead to a potential rally towards $0.18 and $0.22.
- The 50-day EMA at $0.1652 is currently acting as resistance for Dogecoin Breakout Ready, while the 100-day EMA at $0.1434 and the 200-day EMA at $0.1237 provide support.
Crypto analyst Crypto
Crypto analyst Crypto Scient is among the specialists who believe Dogecoin will rise. Their research shows that meme coins might bounce to $0.2 and then rise to $0.34 if they rise beyond $0.15. Crypto analyst Crypto Scient is among the specialists who believe Dogecoin will increase. Their research shows that meme coins might bounce to $0.2 and then rise to $0.34 if they rise beyond $0.15. This would be a 100% increase from DogeDogecoin’s $0.155 daily market price. Even though DogeDogecoin’s price is falling, key indicators are encouraging.
Dogecoin’s open interest rose 10% daily to $869.54 million, showing traders regularly grow interest and holdings. Daily trade volume passed $1.8 billion, up 11%—open interest and trade volume are used to raise DOGE prices. According to cryptocurrency market expert Kevin Capital, Dogecoin Breakout Ready has broken out of its $0.153 resistance level and is trading above the 200 SMA in 4 hours. Kevin said Dogecoin’s chances of executing an inverse head and shoulders pattern would grow if it broke above these levels, with targets at $0.18 and $0.22.
Another expert, Crypto Daily Trade Signals, examined DOGE support levels and predicted market movements after a breakthrough. A bull run may begin if prices break the 50-day exponential moving average (EMA) at $0.1652. The 100-day exponential moving average (EMA) at $0.1434 and 200-day EMA at $0.1237 provide support against future falls. With Dogecoin Breakout Ready price up 6% in the last week, trading volume up 3%, and market cap up 11% the day before, a breakout seems likely.
