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<p>The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/dogecoin-to-moon-doge-price-gears-up-for-bullish-breakout-analyst-predicts-targets/">Dogecoin To Moon: DOGE Price Gears Up for Bullish Breakout, Analyst Predicts Targets</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Bitcoin (BTC) has recently retested the upper border of an upward-sloping flag on the daily time frame. At the same time, Dogecoin (DOGE), the second-largest proof-of-work (PoW) secured digital asset and a leading meme coin, is preparing for a potential bullish breakout. DOGE has gained around 4 percent in the past 24 hours, trading at approximately $0.76 during the early Asian session. Additionally, the weekly Relative Strength Index (RSI) has climbed above 50 for the first time since the start of the year.</p> 
<h2 class="wp-block-heading" id="h-dogecoin-price-targets-for-relief-rally">Dogecoin Price Targets for Relief Rally:</h2> 
<p>After a 30 percent rally in the past four weeks, Dogecoin has decisively broken out of a long-term triangle consolidation pattern, signaling the potential for further upward movement in the coming weeks. According to Crypto Kaleo, a prominent digital asset analyst, Dogecoin is well-positioned to reach 20 cents during this rally. However, he cautions that the $1 mark for Dogecoin may not be achievable until after 2024.</p> 
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   <p lang="en" dir="ltr">Here's my playbook for <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a>:<br><br>Sometime in the next week or two, Dogecoin finally starts to move.<br><br>When DOGE starts moving higher, it usually moves pretty fast. I wouldn't be surprised to see a daily from here to somewhere in the 9 – 10 cents range, chop there for a bit, then… <a href="https://t.co/BN1AqSe8d2">pic.twitter.com/BN1AqSe8d2</a></p>— K A L E O (@CryptoKaleo) <a href="https://twitter.com/CryptoKaleo/status/1722415249448391121?ref_src=twsrc%5Etfw">November 9, 2023</a>
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<p>Crypto Kaleo anticipates that Dogecoin will first encounter a psychological resistance zone between 9 and 10 cents before progressing toward the following significant hurdle at 15 cents. It’s worth noting that the 20-cent target is based on Dogecoin’s performance relative to Bitcoin, underlining the importance of BTC’s price action for the meme coin.</p> 
<p>The Dogecoin network boasts approximately 5.9 million non-zero addresses, facilitating roughly 174 million on-chain transactions. At the time of reporting, Dogecoin’s total hash rate stood at approximately 732.09 TH/s, with a mining difficulty of around 11.71 million. These metrics reflect the robustness and activity within the Dogecoin network.</p> 
<p>In summary, Dogecoin is primed for a bullish breakout, with price targets set by analysts, but it’s important to note that reaching $1 may take some time. The performance of Bitcoin will also play a pivotal role in Dogecoin’s journey, and the meme coin’s network continues to display significant activity.</p>

Dogecoin To Moon: DOGE Price Gears Up for Bullish Breakout, Analyst Predicts Targets

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