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**Dogecoin (DOGE) Just Inch Away From ‘Breakout of the Year’**
In a stunning turn of events, Dogecoin (DOGE) is on the cusp of what could be its biggest move in years. As the cryptocurrency pushes against the long-standing downtrend that has held it back since December, it’s not hard to imagine this being the start of something truly remarkable.
The weekly chart is now showing a breakout above the line that has defined DOGE’s decline over the past seven months. If the trend continues and DOGE closes above the line by Sunday, the breakout narrative will be impossible to ignore. In other words, it may signal a shift in sentiment across the entire altcoin space.
Currently trading near $0.196, a successful weekly close would set the stage for a massive 250% increase in price, potentially sending DOGE towards the coveted $0.50 mark.
A similar setup played out last October when Dogecoin broke a pattern and quickly rallied 600%. While this time the structure looks nearly identical, with clean rejections after rejections followed by a weekly candle punching through resistance, we cannot stress enough that this is still just a setup, not an execution. Confirmation comes in the form of a valid breakout.
The implications are far-reaching for meme coin enthusiasts and investors alike, as this could be the catalyst that finally unlocks DOGE’s immense potential.
It’s worth noting that Dogecoin (DOGE) typically accelerates first on recovering markets, making it no surprise that DOGE remains the category leader in this regard.
Source: u.today
