Dogecoin Poised for Potential Breakout: Could DOGE Double to $0.322 Soon?

Dogecoin Poised for Potential Breakout: Could DOGE Double to $0.322 Soon?

If Dogecoin (DOGE) surpasses the resistance level between $0.166 and $0.171, analysts predict a surge to $0.322, doubling its current value.

This optimism stems from the SEC's approval of the first spot Ethereum ETF, which has boosted the cryptocurrency market and spurred gains in meme coins such as PEPE, FLOKI, WIF, and BONK. However, DOGE has underperformed, declining by 1%.

Currently, DOGE faces resistance at $0.164 due to accumulation by 75,000 wallet addresses holding 10 billion DOGE coins. Over the past week, DOGE has declined by 1%, while over 30 days, it has gained 10%.

Technical analysis indicates a bearish outlook, with potential declines to $0.154. For a bullish reversal, DOGE must close above $0.175 daily, potentially leading to a rise to $0.22.

Read also:

• Real Vision CEO Foresees Solana Doubling, Sparking Crypto Summer in 2024
• Ethereum Name Creation Doubles to 2 Million in 4-Months
• Cardano May Double in Price Soon, Indicator Suggests
• Bitcoin Miner Marathon Digital Sets Goal to Double Hash Rate by 2024 End
• Shiba Inu's Double Triumph: Shibarium's SSI and Binance's Embrace