- Dogecoin breaks above $0.25, confirming a key psychological and technical support level with rising momentum.
- Trading volume spikes to $27.84B, reflecting surging investor interest and confidence in DOGE’s price breakout.
- Analysts eye $0.33 to $0.40 targets, citing historical patterns and bullish continuation signals.
Dogecoin (DOGE) is again stealing the spotlight in the crypto market, as renewed hopes coupled with overall market rebound cause the price to rise sharply. Following weeks of macro-led volatility and persistent consolidation, DOGE displays marked signs of resilience, making even professional traders as well as long-term buyers focus back on the meme-led cryptocurrency.
Currently, at the time of writing, the price of Dogecoin stands at $0.2712, recording a 6.88% increase in the previous 24 hours. The trading volume shot up to a whopping $27.84 billion, with the market capitalization now at $40.46 billion.
These figures not only indicate added trading volume, but they also indicate growing investor confidence in the ability of DOGE to recover its lost positions. The latest breakout has been emphasized by renowned market analyst Ali Martinez, who commented that the price of Dogecoin has now broken through key resistance zones.
As per Martinez, in the event that the price of DOGE finds support above $0.25, the price can quickly reach $0.33 and eventually break out towards $0.40. His analysis has support in the historical price action, in that the same kind of set-ups preceded notable price breakouts.
Also Read | Dogecoin Reclaims Strength as Breakout Targets 300% Rally Toward $1
Dogecoin (DOGE) Bulls Push Price Above $0.25
Another notable voice, BitGuru, explained that the bullish breakout of Dogecoin comes as a result of successful consolidation around the $0.14 area. The coin has thereafter moved upwards in a steady manner, surpassing key resistance, creating a strong base above $0.25. The price action remains important, given that it creates a psychological and technical turning point for DOGE.
The positive storyline has further support from market sentiment. The buying pressure has stayed robust, with little price rejection, indicating that the bulls are still in complete charge. Each dip has registered renewed buying interest, signalling that the support zones of Dogecoin are taking shape.
Market players now look at the $0.30 to $0.40 area as the next potential destination if the momentum can continue. The breakout also comes alongside better sentiment in the broader crypto space, as Bitcoin, Ethereum, and key altcoins start to regain some of the lost ground.
In the event the current trend persists, and the support of DOGE remains in place, the pathway to further price levels becomes even more reasonable. Re-appearance of positive interest might provide the opportunity for Dogecoin to experience bygone heights and achieve a new phase of long-term development.
Also Read | Dogecoin Breaks Out: Analysts Predict DOGE Price Surge to $3.2 by 2025
