Dogecoin Up 3% as Analysts Predict Potential Surge to $2
Dogecoin Price Movement and Technical Analysis
- DOGE increased by nearly 3% in the last 24 hours despite a 36% drop in trading volume.
- The meme coin is forming a bullish cup-and-handle pattern since 2021, possibly targeting $2.
- The handle is consolidating between $0.15 and $0.30; a breakout through $0.48 could signal further gains.
- Indicators show balanced momentum with RSI at 52.5 and potential bullish MACD crossover.
- If DOGE holds above $0.20–$0.18, it may challenge $0.48 resistance, possibly reaching $0.90 to $1.25.
- Failure to maintain $0.15 support could lead to deeper consolidation.
Long-term Outlook
- Dogecoin's long-term structure reflects past accumulation phases before significant rallies in 2017 and 2021.