Dogecoin Price Prediction: Expect 60% Liftoff If This Channel Breaks: Analyst

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Crypto analyst MMBTtraderhas predicted that the Dogecoin price could record a 60% rally from its current level. He highlighted an ascending channel that the foremost meme coin needs to break above to witness this massive uptrend.  Dogecoin Price Eyes 60% Rally To $0.4

In a TradingView post, MMBTtrader predicted that the Dogecoin price could rally to as high as $0.4 once it breaks above the ascending channelat around $0.243. He claimed that with good volume, the market will pump nonstop. The analyst is confident that this will happen, declaring that the breakout will be huge and that a 60% rally is a likely target.  Related Reading This Fibonacci Level Puts The Dogecoin Price Above $10 This Cycle 2 days ago

MMBTtrader also stated that the market would be extremely bullish if the Dogecoin price should rally to this $0.4 target. He predicted that the $0.75 and $1 price levels will be in sight once DOGE reaches $0.4. A rally to these $0.75 and $1 targets would mark new all-time highs (ATHs) for the leading meme coin.  Source: MMBTrader on Tradingview.com

DOGE has sometimes lagged behind other meme coins. However, the crypto analyst expects the Dogecoin price to pump massively this time and be “a leader of memes for weeks.” The meme coin looks to be already leading the way, standing out as one of the top gainers during the current crypto market rally.  

The Dogecoin price has broken above the psychological $0.2 level and looks ready to reach new highs in the coming weeks, with a break above the $0.42 level, MMBTtrader highlighted. Fundamentals, such as the potential launch of Dogecoin ETFs, could serve as a tailwind for higher prices. Bloomberg analysts James Seyffart and Eric Balchunas predictthere is a 90% chance the SEC will approve these funds this year.  Only A Matter Of Time For DOGE

In an X post, crypto analyst Kevin Capital remarked that it is only a matter of time before the Dogecoin price makes its move back up to between $0.28 and $0.30 and then “well beyond.” He added that as long as the Bitcoin priceholds up and continues to show strength, this move for DOGE should come sooner rather than later.  Related Reading Dogecoin Price Prediction: Expect 60% Liftoff If This Channel Breaks: Analyst 12 hours ago

Crypto analyst Trader Tardigrade revealedthat the DOGE/BTC pair has formed a Cup-and-Handle pattern and broken out of the trendline. He had noted that this bullish pattern suggests that the meme coin may outperform the flagship crypto. The analyst added that the Dogecoin price has gained strong momentum. This recent analysis echoes an earlier prediction, when Trader Tardigrade also statedthat DOGE may soon show a God candle on its BTC pair. 

At the time of writing, the Dogecoin price is trading at around $0.24, up 14% in the last 24 hours, according to datafrom CoinMarketCap. DOGE trading at $0.23 on the 1D chart | Source: DOGEUSDT on Tradingview.com Featured image from iStock, chart from Tradingview.com