Analyst Says Dogecoin Is Set To Breakout: How This Could Trigger Another Meme Coin Mania

Dogecoin is experiencing an upswing following Bitcoin's recovery above $66,000, which has triggered a broader crypto market recovery. Crypto analyst Crypto Scient predicts this bullish trend to continue, leading to the start of another meme coin mania.

Dogecoin Set to Kickstart Meme Coin Mania

Currently, Dogecoin's price struggles to break out of $0.15. However, crypto analysts remain optimistic, predicting that it has room to rally.

Crypto Scient believes the meme coin will flip bullish, triggering a surge in other meme coins similar to the frenzy witnessed in February 2024.

The analyst anticipates a breakout above $0.15, leading to a rally towards $0.2. Subsequently, he expects a further breakout and flip at $0.175, signaling continued upward rallies.

Crypto Scient sets a price target of $0.34, representing an over 100% increase from the current level. However, this target remains significantly below its all-time high of $0.7.

DOGE Metrics Flipping Bullish

Despite the price setback, bullish metrics suggest a potential delayed rally for Dogecoin. Open interest has risen by over 10% to $869.54 million, indicating increased trader interest.

Dogecoin's daily trading volume has also surged by 11% to over $1.8 billion.

If these metrics hold and Dogecoin flips bullish as predicted, it could easily rally towards $0.4. However, it currently remains at $0.154, showing a modest 3.24% increase in the last day.