Crypto analyst BitGuru has revealed that the Dogecoin price has printed a cup-shaped recovery at a key support level. Following this move, the analyst predicts that DOGE could experience a price breakout, which would send it above the psychological $0.20 level.
Dogecoin Price Prints Bullish Pattern Which Sets Stage For 20% Breakout
In an X post, BitGuru stated that the Dogecoin price has just completed a classic cup-shaped recovery and is stabilizing above key support at around $0.18. Based on this, he asserted that bullish momentum is clearly building as the leading meme coin looks to break out above $0.20 and rally to new highs.
If this $0.18 support level holds, BitGuru predicts that the Dogecoin price is likely heading toward a fresh breakout above $0.1850 in the next leg up. His accompanying chart showed that DOGE could rally to as high as $0.21 on this next leg up. The meme coin could then reach new highs if this bullish momentum is sustained.
As crypto analyst Kevin Capital has noted, much of the Dogecoin price action will depend on Bitcoin’s next move. DOGE has rallied this far due to BTC’s price surge this week, with the flagship crypto rallying to as high as $95,000. The crypto analyst recently opined that DOGE could get back to $0.26 relatively quickly if BTC breaks above $89,000 and shows conviction upwards.
Therefore, with the Bitcoin price holding well around the $93,000 level, the Dogecoin price could rally to as high as $0.26 in the short to mid-term. Meanwhile, in a more recent post, Kevin Capital also stated that everything is going according to plan for the foremost meme coin.
DOGE Could Record 600% Rally To $0.93
In an X post, crypto analyst Trader Tardigrade predicted that the Dogecoin price could rally by over 600%, reaching $0.93 in the process. He noted that DOGE surged by 200% in the first half of last year and then recorded a 400% rally towards the end of 2024, while reaching the ascending support trendline.
In line with this, the crypto analyst remarked that this 600% rally could be on the horizon, with the Dogecoin price targeting $0.93. This would mark a new all-time high for the meme coin, as it surpasses its current ATH of $0.73.
It is worth mentioning that crypto analyst Master Kenobi recently predicted that the Dogecoin price could rally to $0.90 by June. He stated that this would happen if DOGE breaks the trendline at around $0.15.
At the time of writing, the Dogecoin price is trading at around $0.18, up over 5% in the last 24 hours, according to data from CoinMarketCap.
