Amid unstable market conditions, Dogecoin (DOGE), the largest meme coin by market capitalization, continues to flag bullish signals. Analysis shows the potential for DOGE to break out in the near future.
Growth Prospects of Dogecoin
Last week, Dogecoin showed significant growth of over 12%. Despite mixed price signals, analysts are confident that DOGE may be set for a potential breakout to levels not seen since 2025.
Significance of the $0.36 Level
On-chain data from Glassnode indicates that about 3.48% of the circulating supply of DOGE, amounting to over 5.23 billion DOGE, was acquired at around $0.36. This makes the $0.36 level an important barrier for further growth. If DOGE can break above this level and hold, it may create conditions for more robust gains.
What Lies Ahead for Dogecoin?
If DOGE surpasses the $0.36 level, analysts forecast the possibility of reaching a new price target at $0.70, as there appears to be no significant price distribution until that level. This uncertainty may affect DOGE's growth, but overcoming this key level would pave the way for its historical highs.
The market situation remains challenging, and while Dogecoin shows signs of potential growth, it remains uncertain whether it can overcome the $0.36 mark to ensure the buying pressure needed to move towards $0.70.
