Dogecoin prices have significantly risen after breaching a key resistance zone, leading to heightened expectations among analysts. The next target levels are seen at $0.293 and $0.36.
Dogecoin Price Breakout and New Targets
Dogecoin price broke through a key resistance zone this week, validating a major technical setup. Analysts are now focusing on $0.293 and $0.36 as the next potential upside targets. The analysis indicates that the highest volumes of sales are currently concentrated below $0.20, reducing selling pressure and opening opportunities for further growth.
Resistance at $0.293 and Its Implications
Some analysts suggest that the resistance zone between $0.27 and $0.293 may significantly impact the price dynamics. Furthermore, it is noted that if Dogecoin breaks this level, there will be no visible sell walls above it, potentially allowing the price to reach a new all-time high.
Bit Origin's Plan to Acquire Dogecoin
In other news, Bit Origin has announced plans to acquire $500 million worth of Dogecoin, making it the first public company to add this cryptocurrency to its treasury. This news may bolster long-term confidence in Dogecoin as a reserve asset. Although the acquisition process is still pending, the market has already responded positively.
Recent price movements and institutional news create an optimistic environment for Dogecoin. If current trends continue, further increases in price levels can be expected in the coming weeks.
