Key Takeaways
- DOGE’s price breakout is imminent as the price gains internet buzz ahead of its $1 price target.
- Genius Act law for crypto sees market gains rally as DOGE prepares for a 400% price gain.
- Crypto experts suggest a breakout above $0.26 could see price melt many faces as traders position themselves.
The crypto market is buzzing following the likes of Bitcoin, XRP, and Ethereum all hitting new highs of $120,000, $ 3.60, and $3,660, respectively, fueling much price speculation for these crypto assets as crypto experts suggest the altcoin bull market is closer than expected.
Following such a price rally, BONK, PEPE, and FLOKI have all broken out of their previous market downtrend to enter an uptrend, as prices aim to maintain a bullish price rally. However, DOGE has had a slow start to its rally in the last few days, falling from its high of $0.45 to a key low of $0.16; however, the price is looking ready for a rally to the upside.
Dogecoin (DOGE) is exhibiting some interesting market price action, as a breakout above its key resistance level of $0.26 could spark a strong market rally towards $1, based on market expectations from crypto traders and investors.
DOGE Market Sentiment
The DOGE market sentiment of $1 is back on the books again, ahead of a strong price breakout, with market speculations from crypto expert Ali Martinez suggesting that the price of DOGE faces key resistance, which would influence a market rally upon a successful breakout with strong volume.
The last month has been impressive for DOGE, with several price gains of around 50% suggesting that the price could rally higher following a strong breakout above $0.26, which has acted as resistance based on its technical analysis of the price.
DOGE Technical Analysis – Why $1 is Imminent
DOGE Price Chart – Source TradingView
The price of DOGE reaching a potential $1, based on market speculation, could mean a 400% rally for the notable memecoin. However, such a price expectation in the past, as the price traded towards $0.5, didn’t turn out as expected.
However, DOGE is on the verge of breaking above its $0.26 resistance. Trading with strong volume towards $0.28 could lead to a sustained price rally to a high of $0.5 and subsequently towards $1.
Crypto expert Brazilzz on X shared similar market price action for DOGE, as he expected the price to break above $0.26, which would give bulls and traders strong bullish conviction for a rally towards $1.
According to the crypto trader, the memecoin DOGE is breaking out, maintaining an overall bullish sentiment.
Overall market sentiment for DOGE is bullish as traders expect a breakout above $0.26, which would lead to a rally towards $0.5 to $1 price target.
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