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>>Dogecoin's price jumped by 12%, with experts suggesting it could potentially rise by 200%.

Dogecoin's price jumped by 12%, with experts suggesting it could potentially rise by 200%.

crypthub

about 16 hours ago

Dogecoin's Recent Price Surge

Dogecoin (DOGE) has demonstrated robust momentum, experiencing a recent 12.01% price increase to approximately $0.2125. This recovery follows a week of volatility and a drop of over 17%. The daily trading volume reached over $5.2 billion, showcasing considerable interest. The market structure remains intact, suggesting ongoing bullish trends.

Technical Analysis and Potential

Analysts point to the formation of higher lows, confirming the uptrend’s strength and a breakout from descending resistance. A potential price target of $0.6533 is indicated, representing a possible 200% gain. Continued buying pressure above $0.18–$0.20 support could push the price toward $1.25.

Bullish Chart Patterns

Dogecoin is consolidating within a bullish pennant, a pattern suggesting further upward movement. Support is found around $0.2050, with resistance near $0.2120. A breakout could lead to a move toward $0.2280, aligning with the pennant’s measured target.

Market Divergence and Support

Trading behavior on Coinbase differed from other exchanges during a recent market downturn. Coinbase maintained a notably higher valuation, suggesting potential support from market makers. This divergence may reflect underlying institutional backing for Dogecoin.