Dogecoin (DOGE) Eyes Major Breakout, Analysts Eyes $2.74

The cryptocurrency market is showing increasing bullish sentiment. Dogecoin (DOGE), the leading meme coin, is attracting significant attention from analysts.

Experts' Bullish DOGE Predictions

A prominent crypto expert recently posted a bullish prediction on X (formerly Twitter), noting DOGE's position within an ascending parallel channel. The expert suggested that if DOGE maintains a price above $0.16, it could potentially reach $2.74 or even $6.24 in the near future, based on historical price trends.

Current Market Momentum and DOGE Price Action

On March 6, 2025, the broader crypto market displayed bullish momentum, with Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) showing impressive gains of 3.25%, 2.80%, and 2.15%, respectively.

Dogecoin (DOGE) has risen 3.29% in the last 24 hours, currently trading near $0.204. However, trading volume has decreased by 45%, suggesting reduced trader and investor participation compared to the previous day.

Technical Analysis and Future Price Targets

Coinpedia's technical analysis indicates a bullish outlook for DOGE, although it currently faces minor resistance around $0.205. If DOGE surpasses this resistance and closes above $0.21, a potential 18% surge to $0.245 is predicted in the coming days, based on recent price action and historical patterns.

Further bolstering this bullish sentiment is the recent retest of a key support level. DOGE found support at $0.18 during a recent price decline and is now trending upwards. Historical data shows this support level has previously triggered bullish reversals.