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Dogecoin (DOGE) price is injected with bullish momentum. Following last week’s health correction, it has started moving towards the next high. It appears that the bulls have recovered and are pushing DOGE price towards a possible breakout. Even top market analysts are positive about Dogecoin’s price predictions.
Prominent on-chain analyst Ali Martinez tweeted earlier today about the potential upside of the hugely popular meme coin. He said the current scenario indicates that DOGE will break out. Additionally, Martinez said that if Memecoin finds support at $0.139, the next target would be $0.175.
In a previous tweet, Martinez shared similar analysis about Dogecoin. He explained that if Dogecoin successfully breaks through the $0.143 resistance level, the market could witness a massive 25% price increase, which would take Dogecoin price to the $0.175 price level. . Martinez seems confident, having reiterated his prediction twice.
Historic Dogecoin Price Breakout
The price chart he shared also looks very interesting and informative. This shows the ideal path for Dogecoin’s movement and predicts a path towards the next high at $0.175. This level is still very low compared to Dogecoin’s all-time high (ATH) of $0.73. This was achieved on May 8, 2021, making it more than three years since DOGE achieved this milestone.
However, DOGE price has been hovering in the $0.11 range for quite some time, so the potential for an increase towards $0.175 remains significant. Achieving this level will open the opportunity for the memecoin to turn to support and aim for the next high. This slow but steady price increase can lead to big profits over time.
Currently, Dogecoin is trading at $0.1472. It has increased by 6.14% in the past 24 hours. Notably, trading volume surged by 111.89% and now stands at approximately $1.77 billion. These numbers indicate strong bullish sentiment in the market. Considering Martinez’s prediction, it appears Dogecoin is currently targeting a $0.175 target.
