Dogecoin's price has reached $0.18, nearing a critical breakout zone. Analysts predict significant growth following a successful breakout, supported by large market participants and increased network activity.
Analysts Predicts Dogecoin Price Surge
Dogecoin has been trading in a descending wedge since January. The recent surge to $0.18 positioned the price near a breakout point. Analyst Carl Moon notes that closing above $0.185 confirms the breakout with potential growth of 157% to $0.434. However, DOGE must maintain the breakout level to avoid testing lower support zones in upcoming trading sessions.
Whales Support DOGE’s Bullish Case
Dogecoin price maintains strong support between $0.16 and $0.17. Analyst Whalesdesk highlights this demand zone as critical for continued growth. He notes that DOGE must overcome resistance at $0.30 and $0.45 to reach higher levels. Rising whale accumulation signals confidence among large investors for further growth.
Dogecoin Network Sees Increased Activity
Dogecoin network metrics show increased activity. The number of active addresses and transaction volumes have risen, indicating growing demand for the token. Meanwhile, Dogecoin developers continue to enhance network efficiency, which may support broader adoption.
Network data and market activity suggest potential further growth in Dogecoin's price. However, key testing point will be sustaining levels above $0.185.
