Peter Smith
The meme coin has been riding a steady uptrend since mid-2023, and technical indicators suggest it might be on the verge of breaking out. The question now: can Dogecoin push past resistance and make a run toward $4–$5?
What the Chart Shows
Dogecoin has been quietly building momentum, and trader Cryptollica thinks something big is brewing. In a recent tweet, they declared, "We're just getting started 🌪️ $DOGE," along with a chart showing DOGE holding above a critical support trendline.
The chart highlights several key points that support a bullish outlook for Dogecoin:
- Ascending trendline support: DOGE has consistently bounced off support since mid-2023, currently sitting at $2.54—well above the $2.20 support zone
- Moving averages trending up: Both the long-term MA/720 and medium-term MA/200 are pointing higher, reinforcing the bullish structure
- Price ratios looking healthy: Historical price ratios suggest DOGE isn't overbought and has room to run
- Breakout zone in focus: The next major resistance sits around $2.80–$3.00—if DOGE clears that, the path opens toward $4.00–$5.00
What's Fueling the Hype?
Dogecoin thrives on community energy and social media buzz. Past rallies have been driven by coordinated retail interest on platforms like Twitter and Reddit, and that same vibe is starting to bubble up again. Plus, Bitcoin's strength tends to lift altcoins, and with crypto sentiment turning bullish, DOGE could ride that wave. Don't forget—Dogecoin's real-world adoption is also growing, with more merchants accepting it for payments and microtransactions.
The $2.80–$3.00 zone is the make-or-break level. If DOGE breaks through, the next logical target is $4.00, with $5.00 in play for the medium term. On the flip side, losing the $2.20 support could trigger a pullback toward $1.90 or even $1.70. For now, the momentum favors the bulls—but in crypto, things can flip fast. Keep an eye on volume and broader market trends before making any big moves.
Peter Smith
