Dogecoin's (DOGE) price has shown one of its strongest weekly rallies in years, up nearly 34%. Analysts highlight potential signals for the start of a new bullish cycle.
Dogecoin Price Surge and Long-Term Resistance
The price of Dogecoin increased by over 25%, trading around $0.27 at press time. This move brought the token back to a descending resistance line that had capped its growth since 2021. Traders pointed out the $0.35–$0.40 area as the next key test. A breakout above this level could confirm a structural shift in the market.
Analyst Targets and Projections
Technical projections outlined clear targets. If DOGE's price surpasses $0.40, analysts noted $0.60 as the first logical level, beyond which the psychological $1 mark remains in focus. Analysts pointed out that this level became symbolic for Dogecoin during the 2021 bull run, and should momentum persist, the token could potentially approach this mark again.
Future of Dogecoin: Key Levels and Risks
The broader market also plays a role. Bitcoin has consolidated near major resistance levels, which encourages capital rotation into altcoins like Dogecoin. Community support remains strong, and applications of Dogecoin in payments and tipping maintain its relevance beyond speculative trading. Analysts mentioned that if the price closes above $0.40 on a weekly basis, this could signal the start of a bullish cycle, though risks like profit-taking and volatility are always present.
The current price dynamics of Dogecoin, along with increasing trading volumes and potential trigger points, may lead to significant shifts in its value. If all conditions are met, a potential rise could continue, but traders should remain aware of the associated risks.
