Dogecoin (DOGE) is in the midst of an explosive move, gaining over 160% in less than a week and being one of the biggest beneficiaries of the crypto markets rebound.
DOGE is up 107% in the past week after adding $30 billion to its market cap in one day.
As DOGE gains momentum, traders and industry analysts are considering 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 .
“The general PA (price action) here makes sense to me.
Cut below meme resistance (0.42069) for a minute, take one back down to 20y/30y to eliminate late longs and better buyers (fear of missing out), then continue ripping.
Ultimately, Kaleo sees DOGE reaching the $1 mark, currently rallying around 170%.
“Roadmap to $1.00.”
Legendary commodities trader Peter Brandt recently accurately referred to DOGE’s breakout as an inverted head and shoulders (H&S) after exiting a channel. Brandt says a breakout of the all-time highs – above $0.73 – is imminent.
“We trust Musk
DOGE confirms channel breakout with massive underlying price accumulation and new ATHs around the corner.
Other seasoned traders, like the widely followed Bluntz, have also called for $1 DOGE, saying the crucial dollar level is “not the meme you think.”
Some analysts are not as confident in DOGE. Pseudonymous trader Donalt recently took to his 595,000 followers on
At the time of writing, DOGE is trading at $0.37.
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