Could Dogecoin (DOGE) follow XRP’s lead with a 60% rally next week?

Dogecoin price is showing signs of a potential bullish breakout, with technical indicators and on-chain metrics pointing towards an explosive move. Dogecoin has been range-bound between $0.0705 and $0.0952 since November 2022, but a recent deviation below the range low followed by a quick recovery suggests that the meme coin could be primed for a breakout. The Relative Strength Index and Awesome Oscillator both indicate a clear effort from bulls to take control. Important levels to watch include the range low at $0.0705 and the midpoint at $0.0828. Clearing this blockade could open the path for gains of nearly 35% up to the range high at $0.0952. If the bullish move continues, Dogecoin could reach the $0.114 level, a 62% rally for investors. On-chain metrics suggest high net worth investors are accumulating Dogecoin, potentially contributing to the bullish outlook. However, investors should have a backup plan in case of a breakdown of the range low, which could see a 15% crash to the $0.0597 support level.

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About The Author

Niels I have been passionate about dogecoin since 2019, and have since become an avid follower and advocate of the cryptocurrency. I keep a close eye on the Dogecoin market and trends, and I'm always up-to-date with the latest news and developments. As a true believer in the potential of dogecoin, I am excited to be a part of the growing community and I'm eager to share my knowledge and experience with others. When not busy with dogecoin, I enjoy golf, and I can often be found on the golf course.

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