{"id":36098,"date":"2024-02-14T09:52:44","date_gmt":"2024-02-14T13:52:44","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=36098"},"modified":"2024-02-14T09:52:44","modified_gmt":"2024-02-14T13:52:44","slug":"dogecoin-poised-for-bullish-breakout-30-rally-predicted","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/14\/dogecoin-poised-for-bullish-breakout-30-rally-predicted\/","title":{"rendered":"Dogecoin Poised For Bullish Breakout, 30% Rally Predicted?"},"content":{"rendered":"

Dogecoin (DOGE) enthusiasts and holders have had a glimmer of optimism to hold on to, as the meme token is currently posting gains of about 4.35% in the past seven days amidst inflows into the crypto market<\/a>. This recent price action prompted an analysis from crypto analyst Captain Faibik, who predicts a 30% surge for DOGE.\u00a0<\/p>\n

According to the analyst, the price of DOGE is on the verge of breaking out of a symmetrical triangle, putting the crypto back on track to climbing above the $0.1 price level again.<\/p>\n

Technical Analysis Points To Impending DOGE Breakout<\/h2>\n

Captain Faibik recently took to social media platform X to share a bullish prediction on DOGE. According to the 12-hour timeframe price chart shared by the analyst, the price of Dogecoin has been forming a downward-sloping triangle since it reached $0.1018 on December 12. Notably, price action illustrates a sequence of lower highs and higher lows between the trendlines, which shows that bears are gradually losing control of the market.\u00a0<\/p>\n

Lower highs and higher lows are generally considered bullish, as they typically indicate a consolidation phase before a potential trend reversal to the upside. Faibik\u2019s technical analysis indicates<\/a> a likely 30% bullish breakout above $0.08199. If this turns out to be correct, a prolonged breakout might result in Dogecoin revisiting its December high around the $0.106 level by March.<\/p>\n

$DOGE<\/a> is on the Verge of Symmetrical Triangle Breakout..!!<\/p>\n

In Case of Upside Breakout, Expecting +30% Bullish Rally in the Short term. #Crypto<\/a> #DOGE<\/a> #Dogecoin<\/a> pic.twitter.com\/j1WL8mv33u<\/a><\/p>\n

\u2014 Captain Faibik (@CryptoFaibik) February 13, 2024<\/a>\u00a0<\/p>\n

Can DOGE Reenter The Top 10 Cryptocurrencies?<\/h2>\n

Recent market dynamics<\/a> have resulted in Dogecoin losing its place<\/a> among the 10 biggest cryptocurrencies by market cap. Chainlink (LINK), the culprit, was able to displace Dogecoin from the 10th position after two weeks of intense price gain. <\/p>\n

During this period, Dogecoin also witnessed a crash in whale transactions<\/a>, implying waning sentiment from these large holders.<\/p>\n

However, Chainlink\u2019s rally seems to have slowed, with the crypto currently on a 4% correction from $20.82. Consequently, data from Coinmarketcap shows Chainlink is yet to gain a substantial distance ahead of Dogecoin in terms of market cap.\u00a0<\/p>\n

Chainlink is currently only ahead by $80.8 million, giving Dogecoin a chance to catch up. The 30% bullish breakout prediction above the current price level is enough to push Dogecoin back into the top 10 crypto assets.<\/p>\n

While another major DOGE rally isn\u2019t guaranteed<\/a>, technical factors are lining up. The first resistance is at $0.083, and a decisive breakout above this level could give traders an entry opportunity. However, failing to break above this resistance level would invalidate a bullish run, and DOGE could fall back to $0.078.\u00a0<\/p>\n

At the time of writing, DOGE is trading at $0.0818, down by 0.61% in the past 24 hours.<\/p>\n

Chart from Tradingview<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Dogecoin (DOGE) enthusiasts and holders have had a glimmer of optimism to hold on to, as the meme token is currently posting gains of about 4.35% in the past seven days amidst inflows into the crypto market<\/a>. This recent price action prompted an analysis from crypto analyst Captain Faibik, who predicts a 30% surge for DOGE.\u00a0<\/p>\n

According to the analyst, the price of DOGE is on the verge of breaking out of a symmetrical triangle, putting the crypto back on track to climbing above the $0.1 price level again.<\/p>\n

Technical Analysis Points To Impending DOGE Breakout<\/h2>\n

Captain Faibik recently took to social media platform X to share a bullish prediction on DOGE. According to the 12-hour timeframe price chart shared by the analyst, the price of Dogecoin has been forming a downward-sloping triangle since it reached $0.1018 on December 12. Notably, price action illustrates a sequence of lower highs and higher lows between the trendlines, which shows that bears are gradually losing control of the market.\u00a0<\/p>\n

Lower highs and higher lows are generally considered bullish, as they typically indicate a consolidation phase before a potential trend reversal to the upside. Faibik\u2019s technical analysis indicates<\/a> a likely 30% bullish breakout above $0.08199. If this turns out to be correct, a prolonged breakout might result in Dogecoin revisiting its December high around the $0.106 level by March.<\/p>\n

$DOGE<\/a> is on the Verge of Symmetrical Triangle Breakout..!!<\/p>\n

In Case of Upside Breakout, Expecting +30% Bullish Rally in the Short term. #Crypto<\/a> #DOGE<\/a> #Dogecoin<\/a> pic.twitter.com\/j1WL8mv33u<\/a><\/p>\n

\u2014 Captain Faibik (@CryptoFaibik) February 13, 2024<\/a>\u00a0<\/p>\n

Can DOGE Reenter The Top 10 Cryptocurrencies?<\/h2>\n

Recent market dynamics<\/a> have resulted in Dogecoin losing its place<\/a> among the 10 biggest cryptocurrencies by market cap. Chainlink (LINK), the culprit, was able to displace Dogecoin from the 10th position after two weeks of intense price gain. <\/p>\n

During this period, Dogecoin also witnessed a crash in whale transactions<\/a>, implying waning sentiment from these large holders.<\/p>\n

However, Chainlink\u2019s rally seems to have slowed, with the crypto currently on a 4% correction from $20.82. Consequently, data from Coinmarketcap shows Chainlink is yet to gain a substantial distance ahead of Dogecoin in terms of market cap.\u00a0<\/p>\n

Chainlink is currently only ahead by $80.8 million, giving Dogecoin a chance to catch up. The 30% bullish breakout prediction above the current price level is enough to push Dogecoin back into the top 10 crypto assets.<\/p>\n

While another major DOGE rally isn\u2019t guaranteed<\/a>, technical factors are lining up. The first resistance is at $0.083, and a decisive breakout above this level could give traders an entry opportunity. However, failing to break above this resistance level would invalidate a bullish run, and DOGE could fall back to $0.078.\u00a0<\/p>\n

At the time of writing, DOGE is trading at $0.0818, down by 0.61% in the past 24 hours.<\/p>\n

Chart from Tradingview<\/p>\n

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