Dogecoin

bullish

Captain

<p>Captain Faibik, a top analyst, shared an analysis with his followers on X (formerly Twitter) and stated<a href="https://captainaltcoin.com/dogecoin-doge-price-is-gearing-up-for-a-45-surge-heres-how/" target="_blank" rel="noopener noreferrer nofollow"> that Dogecoin (DOGE)</a> is showing signs of gearing up for a potential breakout.</p>
<p>The DOGE chart reveals a bullish pattern forming, and Faibik suggests that a breakout could send the meme coin king soaring toward the $0.20 level. However, this potential move comes <a href="https://captainaltcoin.com/crypto-analyst-points-to-when-dogecoin-doge-bull-run-will-start-projects-a-spike-to-1-and-2/" target="_blank" rel="noopener noreferrer nofollow">as Dogecoin </a><span style="margin: 0px; padding: 0px;">consolidates</span> within a falling wedge pattern.</p>
<h2 class="wp-block-heading" id="dogecoin-chart-technical-pattern-points-to-potential-breakout">Dogecoin Chart: Technical Pattern Points to Potential Breakout</h2>
<p>Dogecoin has been trading within a falling wedge pattern on the daily chart, which is usually seen as a bullish indicator. This pattern is created by two downward lines that converge, suggesting the price may soon turn around.</p>
<p>Currently, the DOGE price is testing the upper resistance of the wedge, which sits around the $0.11 zone. However, a successful breakout from this level could lead to a substantial pump.</p>
<figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="489" src="https://captainaltcoin.com/wp-content/uploads/2024/09/image-496-1024x489.png" alt="" class="wp-image-558503" srcset="https://captainaltcoin.com/wp-content/uploads/2024/09/image-496-1024x489.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-496-300x143.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-496-766x366.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-496-1536x733.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-496-2048x978.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-496-314x150.png 314w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-496-100x48.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-496-733x350.png 733w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-496-788x376.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-496.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><em><strong>Image Source: <a href="https://x.com/CryptoFaibik/status/1838063657910960134" target="_blank" rel="noopener noreferrer nofollow">X/CaptainFaibik</a></strong></em>
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<p>Captain Faibik mentioned that a breakout could send Dogecoin as high as $0.20.<a href="https://coinmarketcap.com/currencies/dogecoin/" target="_blank" rel="noopener noreferrer nofollow"> DOGE’s price</a> target represents a 91% increase from the current levels and aligns with previous major price swings seen earlier this year.</p>
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<h2 class="wp-block-heading" id="key-levels-to-watch-for-dogecoin">Key Levels to Watch for Dogecoin</h2>
<p>According to the chart analysis, for DOGE to confirm a bullish breakout, the price must decisively clear the $0.11 resistance. Once this level is breached, the next significant target is the $0.20 mark.</p>
<p>Moreover, if the Dogecoin price fails to break out of the wedge, it could face a downside risk, with support likely to hold around $0.09. This level marks the lower boundary of the wedge and could act as a safety net for the price in case of rejection from the upper resistance.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/heres-how-bitcoin-price-performed-in-q4-will-btc-smash-100k-soon/" target="_blank" rel="noopener noreferrer nofollow">Here’s How Bitcoin Price Performed in Q4 – Will BTC Smash 100K Soon?</a></em></strong></p>
<h2 class="wp-block-heading" id="can-dogecoin-price-hit-0-20">Can Dogecoin Price Hit $0.20?</h2>
<p>If Dogecoin successfully breaks out of the wedge and the necessary volume follows, the next key level to target would be $0.20. This target aligns with Captain Faibik’s analysis and corresponds to previous highs observed earlier this year.&nbsp;</p>
<p>Moreover, the move to $0.20 is not guaranteed, and traders should remain cautious until the breakout is confirmed with volume and price action.</p>
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<p>The post <a href="https://captainaltcoin.com/dogecoin-doge-price-is-gearing-up-for-another-bullish-leg-heres-why-0-20-is-next/" rel="noopener noreferrer nofollow">Dogecoin (DOGE) Price Is Gearing Up for Another ‘Bullish Leg’ – Here’s Why $0.20 Is Next</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Dogecoin (DOGE) Price Is Gearing Up for Another ‘Bullish Leg’ – Here’s Why $0.20 Is Next

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