news 
Dogecoin Price Setup Could Send the Memecoin to $1: Here’s the Outlook
The price of Dogecoin (DOGE) has broken above a long-term descending resistance line, prompting analysts to reassess its potential trajectory. As DOGE now trades above $0.208 with significant volume support, it appears that this memecoin is entering a powerful upward phase, potentially leading to new highs and even a price target of $1.
According to Chris, a notable technical analyst, the current setup resembles a “Big Beautiful Breakout,” indicating that DOGE could surpass its previous highs seen in December 2024. He emphasizes that this move has the potential to propel the token up to the psychologically significant mark of $1, with interim targets at $0.70 and $0.83.
The analyst notes that this breakout is fueled by a shift in market sentiment and renewed interest in DOGE from traders and investors alike. Additionally, the Ichimoku cloud, often viewed as a gauge of market strength, now supports the price action. The accumulation of buy orders has led to an increase in volume, suggesting a robust upward trend.
Notably, the team at Bitcoinsensus observes a striking pattern similarity with DOGE’s historical cycles. Their analysis suggests that this token is currently in its final buildup phase before an explosive upward move. This notion aligns with Chris’s assertion that the market is now experiencing increased participation from traders, which might fuel a price surge.
As Dogecoin’s seven-day gain reached 15.89% and trading volume exceeded $9.4 billion, experts expect the token to continue its upward trajectory if it can hold above the crucial level of $0.20.
Source: blockonomi.com
