Dogecoin (DOGE) appears positioned for a major price surge. This is because multiple analysts are pointing to technical indicators and historical patterns suggesting a breakout soon.
As per the analyst’s opinion, DOGE could potentially reach $0.209. This represents a substantial upside from current levels of $0.1587.
Ali Expects Dogecoin To Hit $0.209
Prominent crypto trader Ali has identified a critical price level for DOGE. He stated,
This technical analysis aligns with multiple indicators suggesting a potential breakthrough moment for Dogecoin.
The most noteworthy technical development is the approaching golden cross formation. This is a highly bullish signal that occurs when a short-term moving average crosses above a long-term moving average.
Trader Elja tweeted the importance of this pattern, noting that,
Supporting this bullish outlook, analyst Milkybull Crypto expressed confidence in the timing, stating,
“I believe this is the month when DOGE experiences a golden cross that will begin the god candle. Everything is aligning.”
These similar thoughts show growing optimism among technical analysts regarding DOGE’s short-term prospects.
Dogecoin Price Shows Slow Momentum
Current market data reveals decent performance across multiple timeframes:
- 24-hour: -2.0%
- 7-day: +18.9%
- 30-day: +52.6%
On-chain analysis from IntoTheBlock provides additional context for DOGE’s market structure.
The data shows that 84% of holders are currently in profit. Additionally, only 13% are at a loss, and 3% remain at the break-even point.
Large holders maintain major control over the DOGE market. As per the data, 62% of the total supply is concentrated among major investors.
The high percentage of profitable holders often indicates strong market confidence and reduced selling pressure. This is because investors are more likely to maintain their positions during price appreciation.
Dogecoin Records a Yearly Surge of Over 130%
The major concentration among large holders (62%) suggests that whales maintain substantial influence over potential price movements.
Price levels and momentum indicators continue to strengthen DOGE’s position for a potential breakout. The modest yearly return of 134.2% shows that DOGE still has room to pump.
These combined factors—the approaching golden cross, historical precedent for rallies, strong holder profitability, and strong technical setup—create a decent room for DOGE’s potential move toward the $0.209 target.
