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Dogecoin price is approaching a critical breakout zone after surging to $0.18 before retracing.
Analysts predict that a breakout above key resistance could fuel a 157% rally to $0.434.
Rising whale accumulation and network activity further support bullish momentum.
Analysts Predicts a 157% Dogecoin Price Surge
Dogecoin has been trading within a multi-month falling wedge since its January peak of $0.4350.
This pattern has formed lower highs and lower lows, tightening toward a major breakout point.
The recent surge to $0.18 pushed DOGE price to the tip of this wedge. Crypto analyst Carl Moon shared his insights on Dogecoin price movement.
He highlighted that the meme coin is nearing a structural breakout, which could trigger a sharp rally.
According to Moon, if DOGE closes above $0.185 on the daily chart, it may confirm the breakout.
Moon projects that Dogecoin could skyrocket 157% to $0.434 following a successful breakout.
This target is consistent with the price high achieved prior to the inauguration of Donald Trump into office.
However, DOGE has to sustain a breakout level not to test lower support zones again in the coming trading sessions.
Whales Support DOGE’s Bullish Case
Dogecoin price maintains strong support between $0.16 and $0.17, preventing further downside.
Analyst Whalesdesk recently identified this demand zone as critical for higher prices. He emphasized that DOGE needs to hold above this range to sustain its bullish trajectory.
Whalesdesk outlined a potential price path leading to a four-year high of $0.60. He noted that before reaching this level, DOGE must clear resistance zones at $0.30 and $0.45.
The analyst stressed that increased whale accumulation supports the case for an extended rally.
On-chain data confirms rising whale activity, with large holders accumulating DOGE at current levels.
Historically, significant whale buying has preceded major price surges. This accumulation signals confidence among institutional and high-net-worth investors.
Dogecoin Network Sees Increased Activity
The metrics of the Dogecoin network show increased engagement from users and greater transaction numbers.
Daily active addresses have increased in the past several weeks, which indicates increased activity with DOGE coins.
Additionally, transaction volumes on the Dogecoin network have also gone up, therefore indicating that there is more demand for the token.
Trading in cryptocurrency networks intensifies when there is an upturn in price. The increased level of participation might ensure the ongoing price trend.
At the same time, Dogecoin developers continue to enhance network efficiency. Upgrades aim to improve speed and reduce fees, which may support broader adoption and utility going forward.
Market Sentiment and Technical Outlook
The overall market experienced minor fluctuations after the Federal Reserve made new policy decisions.
Macro-economic factors have received good responses from investors while considering sentiment across digital assets.
This new market sentiment has also had a positive impact on the price fluctuations of Dogecoin.
If there is a strong buy signal, DOGE price is likely to break out from key levels, thus confirming.
Currently, analysts are awaiting $0.185, which seems to be the current breakpoint for further growth.
A breakout above this level could open the door for a continuation higher in the DOGE price.
