Dogecoin Aims for $1.25 After Potential 170% Breakout to $0.6533
Dogecoin is currently trading between $0.21 and $0.23, showing a decline of 12.8% over the past week but maintaining support above $0.21. Key points include:
- Recent technical analysis indicates a formation of higher lows on the 5-day candlestick chart.
- This trend suggests buying pressure is greater than selling pressure, potentially leading to a continuation rally.
- The immediate breakout target is set at $0.6533, representing a potential gain of over 170% from current levels.
- If this target is reached, Dogecoin may aim for $1.25, confirming a significant shift in its long-term trend.
- A rally to $1.25 would indicate a 490% increase from the current price.
- As of now, Dogecoin trades at $0.2131, down 2% in the last 24 hours.
