Dogecoin (DOGE) Price Prediction: DOGE Bulls Aiming to Reclaim Lost Ground as Momentum Builds

The recent breakout of Dogecoin has raised expectations for a possible longer-term bull run. With a surge to $0.1040, the price has overcome significant resistance and is gaining momentum back.

Dogecoin (DOGE) has recently experienced a breakout, surging to $0.1040 and instilling hopes for a possible longer-term bull run. The price has encountered substantial resistance at this level and is now attempting to regain momentum. As DOGE tries to recover lost ground, this development provides a much-needed boost. It follows weeks of consolidation and downward pressure.

A closer examination of the chart reveals bullish momentum building for DOGE as it breached the 50- and 100-day moving averages. It is now testing the 200-day EMA, which stands at approximately $0.1156. If this level is breached, it could signal a complete reversal. This breakout is being supported by increasing trading volume, which adds credibility to the price action.

This volume surge usually signifies market interest and the potential for further upward movement. The Relative Strength Index also paints a promising picture. DOGE is in a neutral zone with the RSI at 52, indicating that it can still rise without being overbought.

This technical setup bodes well for a possible continuation rally if DOGE can close and hold above the critical $0.11-$0.12 range. On-chain data provides further support for a longer-term reversal. Dogecoin has seen a surge in activity, with higher transaction volumes and more addresses connecting to the network.

These are usually strong indicators of rising interest from both institutional and retail investors. Big holders, known as whales, have also been spotted engaging in activity, potentially moving large amounts of DOGE to reposition themselves for future gains.

Despite the optimism, it's crucial to note that DOGE still faces strong resistance in the $0.12–$0.13 range. If this barrier is overcome, a longer bull run could be possible. However, if momentum fails to be sustained, a pullback could occur.

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