- Dogecoin rebounded above $0.18 after briefly dropping below $0.17.
- Analysts forecast DOGE could surge to $0.46 soon, representing a potential gain of 147%.
- Trader Tardigrade predicts Dogecoin could surpass $1 by May 2025 if momentum continues.
Dogecoin’s recent rally faced a setback on April 24 when its price slipped under $0.17. Despite this pullback, the cryptocurrency swiftly bounced back, climbing above $0.18 within just a few hours. This quick rebound demonstrated the token’s strong underlying support and resilience in a volatile market.
By April 26, Dogecoin’s price rose to $0.186, marking a 3.06% increase over the past day. Momentum appears to be shifting in favor of the bulls, as noted by crypto analyst and trader Memecrypto, who recently shared on X that Dogecoin “might be starting something bigger” from the $0.18 level. This statement has fueled growing optimism among the Dogecoin community.
Memecrypto pointed out that the price action does not appear random but is part of a naturally forming structure. He explained that a breakout is unfolding, observed through momentum indicators and Exponential Moving Averages (EMAs), offering more credibility to the rally.
$0.24 Breakout Signals Larger Uptrend
At the current rate of growth, the next key barrier is expected at $0.24. Reaching this milestone could set off a larger uptrend. Memecrypto emphasized that markets typically do not wait for latecomers, hinting that a sharp surge could trigger a FOMO (Fear of Missing Out) rush among investors.
In a separate update, an analyst on TradingView noted that Dogecoin recently exited a falling wedge formation. This technical move is often regarded as a bullish reversal signal, and many traders see it as an early indication of further price gains.
The falling wedge, which had kept Dogecoin on a downward course, encountered resistance at $0.28 in February and at $0.16 in April. Breaking free from this pattern near the $0.18 mark, alongside a noticeable rise in trading volume, suggests that the tide may have turned in favor of bulls.
Experts Eye $1 Dogecoin Milestone
Support levels now sit firmly around $0.143 and $0.16, providing a strong foundation for the next phase of growth. The analyst projects that Dogecoin could climb as high as $0.46, which would represent a striking 147% rise from its current position.
Further strengthening market sentiment, another market expert known as Trader Tardigrade shared insights on X that Dogecoin has shattered a critical mid-term resistance trendline. Tardigrade stressed that this breakout is genuine and not a false signal, comparing the movement to the one witnessed in February 2024, right before a major rally.
If the current momentum persists, Tardigrade believes Dogecoin could surge past the $1 mark by May 2025. This long-term outlook has energized holders and investors, eager to see whether history will repeat itself in the coming year.
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