Dogecoin (DOGE) has recently surged past the $0.111 resistance level, indicating strong bullish momentum in the market. According to technical and on-chain analyst Ali Martinez, around 62,270 addresses currently hold over 36 billion in DOGE. This is a significant accumulation that could boost further price increases.
Analysts Predict Dogecoin Could Reach $0.150 with Continued Momentum
Currently, the price of Dogecoin is at around $0.1133 on Binance, and it rose by 4% over the last day and 11.50% in the week. The breakout above the critical $0.111 level is important. If $DOGE can sustain this level, then it may establish a bullish trend that would open up for other targets.
As it has been observed by analysts, no large supply wall is visible in the near future implying that should DOGE continue its current trajectory it may spike to the next level of $0.150. This optimistic outlook indicates that more people are thus developing an interest on DOGE especially as overall sentiment on cryptocurrencies is gradually averaging.
$DOGE Holders Urged to Monitor Price and Volume Activity
The current trading activity reveals that there is interest among the market players to exploit this opportunity and get rich. As the community support remains firm and more and more institutional investors eye on it, Dogecoin could climb further in the days ahead.
$DOGE holders are encouraged to pay special attention to the price changes and volume activity. Above the $0.111 mark will be crucial to sustain an uptrend, otherwise any bearish break will attract many potential buyers.
Lastly, the movement of Dogecoin in the recent past has demonstrated the ability of the currency to grow and become more relevant in the crypto space. While waiting for this breakout confirmation traders, the way to the higher price levels appears to be more and more favorable.
