Dogecoin (DOGE) Price Prediction: Will DOGE Hit $0.175 Soon?

The price of Dogecoin (DOGE) has been injected with bullish momentum. It has started to move to the next highs after a health correction last week.

.175 Soon?" >

Dogecoin (DOGE) price analysis reveals bullish momentum as the meme coin surges toward the next highs. A breakout from key resistance could lead to a further rally.

Key Points

DOGE price faces resistance at $0.143, aiming for the next target of $0.175.

Technical analysis suggests a potential breakout and rally if support at $0.139 holds.

Despite the bullish outlook, the meme coin remains 80% below its all-time high.

Dogecoin (DOGE) price is showing bullish signs as it surges toward the next highs. A breakout from a crucial resistance level could lead to a further rally.

bullish dogecoin price analysisDogecoin price surged by 6.14% in the last 24 hours. This move brought DOGE price closer to the next resistance at $0.143. A breakout from this level could lead to a further rally toward the next target of $0.175.

However, technical analysis also suggests that support at $0.139 is crucial for the continuation of the rally. A break below this level could lead to a deeper correction.

On the weekly chart, DOGE price is still trading 80% below its all-time high of $0.73, which was last seen in May 2021. Despite the recent rally, the meme coin is yet to recover a significant portion of its losses from the bear market.

DOGE/USD daily chart

bullish dogecoin price analysisbullish dogecoin price analysis

On-chain analyst Ali Martinez tweeted earlier today about a potential rally for Dogecoin. The highly popular meme coin is showing signs of breaking out, according to Martinez. He further mentioned that if the $0.139 support for the meme coin continues to hold strong, the next target will be $0.175.

In a previous tweet, Martinez shared a similar analysis for Dogecoin price. He explained that if Dogecoin price manages to break above the $0.143 resistance level, the market could witness a massive 25% price rally, which will take the Dogecoin price to the $0.175 price level. Martinez appears to be confident about his prediction, as he has reiterated it twice.

The price chart shared by him also looks very interesting, yet informative. It depicts the ideal path for Dogecoin’s movement, predicting its journey toward the next high of $0.175. This level is still very low compared to Dogecoin’s all-time high (ATH) of $0.73. It was achieved on May 8, 2021, making it over three years since DOGE last achieved this milestone.

However, the potential rally toward $0.175 is crucial as the DOGE price has been consolidating around the $0.11 range for quite some time. Achieving this level will open up opportunities for the meme coin to turn it into support and then target the next highs. This slow-yet-sticking price growth can result in huge gains over time.

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