Dogecoin Breakout at $0.29 Could Spark Rally to $0.80
Analyst Amaryllis predicts a Dogecoin breakout at the $0.29 level could drive DOGE to $0.80 by Q4 2025. DOGE trades near $0.21, forming a large triangle and rounding bottom pattern. A confirmed Dogecoin breakout with high volume may see the $0.29 resistance turn into support, followed by targets at $0.36 and $0.49, ultimately aiming for $0.80. Technical indicators—RSI at 46–52 and compressed 20–200-day moving averages—hint at an imminent move. On-chain metrics show whale accumulation and exchange outflows, while retail activity and daily active addresses remain flat. Futures open interest has risen without excessive leverage, signaling healthy trading demand. Sustaining this rally will require renewed network engagement and volume confirmation.
Bullish
Categorized as bullish because the analyst’s forecast relies on a strong Dogecoin breakout above $0.29, supported by technical patterns and on-chain data. Past breakouts, like the late-2024 surge from $0.18 to $0.49, illustrate how triangle formations can trigger sharp rallies. Current RSI near neutral, compressed moving averages, rising futures open interest, and whale accumulation signal favorable conditions. Additionally, exchange outflows indicate reduced sell pressure. However, stagnant retail participation presents a caveat. Overall, if DOGE breaks $0.29 with volume, short-term momentum could turn strongly positive, while long-term gains to $0.80 hinge on renewed network demand. This aligns with bullish market behavior seen in previous breakout scenarios.