Following a rebound in general markets, major digital assets such as Dogecoin has seen significant growth, attracting strong sentiment from investors and prompting some bullish price views from enlightened crypto experts about DOGE’s potential in the near future.
Dogecoin Price Surge To $0.3 And Beyond Visible
Dogecoin’s renewed strength may not end soon as experienced by Dogogod, market expert and trader predicted that the dog-themed meme coin may be poised for a significant breakout that could trigger a prolonged price rally towards the $0.3 level.
Bullish projections from experts suggest that Dogecoin may experience a major rally to an important price level based on a long consolidation phase, reflecting market resilience. the same angle for years.
According to Dogogod, Dogecoin has been consolidating for several years while maintaining its support level at $0.011. If crypto assets manage to break out of this stabilization phase, market experts believe that the move could trigger a price rally to the highest levels. $0.30 level or even higher.
Dogedog’s predictions are part of a broader bullish stance towards the flagship meme coin, possibly fueled by increased adoption and growing support in the DOGE community.
Another market expert, Master Kenobi also investigated the current price movements of Dogecoin, highlighting that the token has started its rise compared to the previous cycle trend, which preceded a significant increase.
Master Kenobi notes that in the previous cycle, DOGE started its rise with 4 consecutive green weeks after 2 red weeks. Meanwhile, in the ongoing cycle, the digital asset has replicated the pattern as shown by the green line on its chart.
Kenobi stated that the previous rise began about 175 days later Bitcoin Halved event in 2020, while the current bull run appears to have started 20 days earlier. Therefore, considering the recent Halving event occurred exactly 175 days ago, Kenobi claims the likelihood of additional red in the coming weeks would be reduced if the first 4 weeks were a fake event.
On-Chain DOGE Activity Sees Huge Growth
It is worth noting that this optimistic forecast for DOGE comes as on-chain activity increases on the network. In recent days, the number of active Dogecoin addresses has experienced significant growth to a higher level. Report from Ali Martinez, crypto expert revealed that active DOGE addresses recently surged to around 133,880, marking the highest level in the last 8 months.
This significant increase signals a new wave of interest and activity for meme coins. This also reflects the growth of transactions on the network and greater participation from retail and institutional investors.
Featured image from Unsplash, chart from Tradingview.com
