Dogecoin (DOGE) is in the midst of an explosive move, surging more than 160% in less than a week as one of the main beneficiaries of the crypto markets’ rebound.
DOGE is up 107% this past week after adding $30 billion to its market cap in a single day.
With DOGE gaining momentum, traders and analysts in the space are watching the top memecoin’s next move, focusing on the psychological $1 level.
Pseudonymous crypto trader Kaleo tells his 656,000 followers on social media platform
“General PA (price action) here makes sense to me.
Chop below meme resistance (0.42069) for a minute, drop one flush back into high 20s/low 30s to shake off late longs and fomo (fear of missing out) top buyers, then resume ripping.
Ultimately, Kaleo sees DOGE hitting the $1 mark, currently rallying around 170%.
“Roadmap to $1.00.”
Legendary commodities trader Peter Brandt recently accurately called DOGE’s breakout from a reverse head and shoulders (H&S) after breaking out of a channel. Brandt says a break to record highs – above $0.73 – is imminent.
“We trust Musk
DOGE confirms the channel breakout with massive underlying price accumulation and new ATHs around the corner.”
Other veteran traders, such as the widely followed Bluntz, have also called for a $1 DOGE, saying the crucial dollar level “isn’t the meme you think it is.”
Some analysts don’t have much confidence in DOGE. Pseudonymous trader Donalt recently addressed his 595,000 followers on
At the time of writing, DOGE is trading at $0.37.
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Generated image: Midjourney
