Dogecoin (DOGE) has recently broken through the $0.111 resistance level, signaling a robust bullish trend in the market. Technical and on-chain analyst Ali Martinez reports that approximately 62,270 wallets currently hold over 36 billion DOGE. This substantial accumulation could potentially drive further price increases.
#Dogecoin has successfully surpassed the $0.111 resistance, with 62,270 addresses owning more than 36 billion $DOGE. If #DOGE can maintain this level, it may confirm a bullish breakout. With no significant supply barriers ahead, the route to $0.150 appears unobstructed! pic.twitter.com/4L0zI4s72z — Ali (@ali_charts) September 26, 2024
Analysts are forecasting that Dogecoin could reach $0.150 if the momentum continues. Currently, Dogecoin’s price hovers around $0.1133 on Binance, having risen by 4% over the past day and 11.50% over the week. The breakthrough above the crucial $0.111 level is significant. Should $DOGE manage to hold this position, it might establish a bullish trend that opens the door to further price targets.
Analysts have noted the absence of large supply walls in the near term, suggesting that if DOGE maintains its upward trajectory, it could surge to the next milestone of $0.150. This positive outlook reflects growing interest in DOGE, particularly as the overall sentiment in the cryptocurrency market stabilizes.
$DOGE holders are advised to keep a close eye on price fluctuations and trading volume. Maintaining a position above the $0.111 threshold is vital for sustaining an upward trend; otherwise, any bearish movement could attract numerous potential buyers.
In conclusion, Dogecoin’s recent performance has showcased its capacity for growth and increased relevance within the cryptocurrency landscape. As traders await confirmation of this breakout, the path to higher price levels appears increasingly promising.
