Dogecoin Set for Big Breakout as Analysts Predict New High
Analysts say Dogecoin is preparing for a major breakout, with whale accumulation and bullish patterns pointing to a possible new all-time high this cycle.
Dogecoin may be on the verge of a major breakout, according to crypto analyst TradingShot. In a recent post, he explained that the meme coin has broken above a key trend line that started two months ago, suggesting the start of a new bullish phase. Based on chart analysis, he believes Dogecoin could surge past its previous peak and set a new all-time high in this cycle.
TradingShot noted that the price has bounced from a low point within its long-term rising channel and is now supported by an upward-trending RSI. He pointed out that Dogecoin has rebounded from the bottom of a 1-year upward channel, and if it mirrors the last bullish run, it could go even higher. He also explained that in bull markets, each upward movement tends to be stronger than the one before, meaning this rally might be sharper and more aggressive.
One area of resistance remains near the 50-day moving average. However, TradingShot believes that Dogecoin has enough strength to break through this level and continue upward. The chart suggests that the momentum has already shifted in favor of the bulls.
Supporting this view, large investors have been buying significant amounts of DOGE. According to crypto analyst Ali Martinez, whales have been accumulating over the past two weeks, showing renewed confidence in the asset despite recent price swings. Historically, such accumulation often takes place just before a major price increase.
Another analyst, Trader Tardigrade, shared that Dogecoin appears to be finishing the final phase of its third major cycle. Based on past bull market behavior, he expects a big rally to follow. His chart analysis shows the possibility of a strong upward move if this cycle pattern continues, with the price potentially reaching new highs.
In another update, Tardigrade said that Dogecoin’s MACD indicator is breaking out of a consolidation pattern, which could signal the start of a large upward push. He predicts that the coin might reach a symbolic milestone in the near future, with the rally building toward mid-year.
Master Kenobi, another crypto analyst, also gave a bullish forecast, stating that Dogecoin could rise significantly over the coming months. He shares the view that DOGE has the technical setup and market sentiment needed to challenge its previous highs and move even further.
Altogether, with multiple analysts pointing to similar patterns and whale activity confirming strong support, Dogecoin seems ready to attempt a breakout. If the current trend holds, the meme coin could soon make headlines again as it races toward another major peak.
