Dogecoin (DOGE) price continues to show strong bullish momentum, with analysts pointing to a potential meme coin rally. After breaking above a key resistance trendline, DOGE remains positioned for further gains. The breakout target of $0.6533 suggests a possible 318% increase, drawing attention from market participants. Technical indicators, wave structures, and trading volume trends support the possibility of an extended upward move.

Dogecoin Price Breaks Key Resistance

Dogecoin price has surged 129% since breaking through a critical resistance trendline, signaling a shift in market dynamics. The formation of higher lows indicates a potential continuation of the uptrend, with price action suggesting an early expansion phase.

Technical analysis points to a well-defined breakout structure that aligns with historical price movements. Elliott Wave Theory on the chart suggests that DOGE price may be in the middle of a bullish impulse wave. The volume spikes confirm increased market participation, reinforcing the likelihood of sustained upward movement.

Moreover, the market structure indicates that the top meme coin price is following a bullish wave pattern, forming a series of higher highs and higher lows. A curved trendline on the chart suggests that the DOGE has transitioned from a prolonged correction phase into a breakout phase.

Fibonacci extension levels and historical resistance points indicate that DOGE could reach the projected breakout target of $0.6533. If this pattern holds, the top meme coin price may see further increases as momentum builds.

Ali Martinez Identifies a Buy Signal

Supporting the bullish outlook, analyst Ali Martinez has pointed out a potential rebound in Dogecoin price using the TD Sequential indicator. The indicator has flashed a buy signal on the daily chart, which traders often use to identify trend reversals. This development comes after a period of bearish candles, suggesting that DOGE may be entering a recovery phase.

Martinez’s analysis highlights a green buy setup on the latest price candle, indicating that bullish momentum could return. If DOGE sustains buying pressure, the price may move toward higher resistance levels.

Key Levels to Monitor

Dogecoin price remains in a strong position following the breakout, with support levels holding above key zones. The formation of higher lows suggests that buyers are maintaining control, reinforcing the possibility of further gains.

Resistance levels remain critical for confirming the next phase of the rally. The primary breakout target of $0.6533 remains in focus, with Fibonacci extension levels providing additional reference points. If DOGE maintains its current trajectory, the price could continue to climb, supporting the broader bullish outlook.

Another analyst recently provided a more optimistic approach, predicting the meme coin price could reach $90 by the end of 2025. Crypto analyst DOGECAPITAL highlighted that this parabolic rally would occur in phase 3 of DOGE’s bull run, mirroring past market cycles.

At press time, the Dogecoin price is trading at $0.1669, reflecting a 6% increase in the last 24 hours. The meme coin’s market cap has surged to $24.77 billion, while its 24-hour trading volume jumped by 13% to $2.49 billion, indicating strong buying interest.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.