Dogecoin Rebound Gains Momentum As Experts Predict a $0.3 Breakout
Investors have shown increased interest in digital assets such as Dogecoin as a rebound in the general market sees growth in the market. Dogecoin could be in for a significant price rally towards $0.3 and potentially higher as Dogegod, a market expert and trader predicts a breakout for the meme-inspired token.
According to Dogegod, Dogecoin, which has been consolidating for years, is ready to break out from this stabilising phase and potentially reach the $0.30 level. Other experts, like Master Kenobi, are also bullish about Dogecoin’s price movements, citing trends from past cycles that began with 4 consecutive green weeks.
He notes that while previous cycles began around 175 days following the Bitcoin halving event in 2020, the current bull run appears to have started around 20 days earlier. There are signs of growth on-chain, as the number of Dogecoin’s active addresses surges to about 133,880 in the past few days.
This marks its highest level in eight months and reflects renewed interest in the network. The rise in transactions could be indicative of a shift in market sentiment towards more participation from both retail and institutional investors. These optimistic predictions for Dogecoin follow its recent on-chain growth and align with broader bullish trends in the meme coin community.
Featured image from Unsplash, chart from Tradingview.com. source
