Dogecoin (DOGE) once again captures all the attention. After rising 17.7% this week, DOGE now boasts a market capitalization of 27.8 billion dollars—surpassing Cardano (ADA) to reclaim the top position among major cryptocurrencies.
Despite a small decrease of 1.4% in the last 24 hours, Dogecoin is still trading around $0.1810 on April 27, maintaining this price after a significant breakout.
The technical backdrop indicates that Dogecoin is breaking out of a descending wedge pattern, which is typically a bullish setup. Strong support has formed around the $0.143 and $0.16 levels, providing a solid foundation for subsequent upward moves as bullish sentiment continues to grow.
Dogecoin defends the trend line as Bulls Eye $0.24
Technically, Dogecoin is still well supported on the upward trend line formed since mid-April, with the EMA 50 ($0.1788) providing further stability.
The immediate resistance level is $0.1878. A breakout above this level could open the door for a test at $0.1929, with a further push towards $0.24 if the upward momentum remains strong.
Trading plan:
Breakthrough Buy: Above $0.1878Target Increase: $0.1929 and $0.24Support Zone: $0.1788Stop Loss: Below $0.1740
For beginners, this setup is called "trendline defense"—buyers enter along the rising support level to maintain the upward momentum. Patience is key: only act after a clean breakout with strong volume confirmation.
Dogecoin: Analysts see potential to rise to $1 by 2025
Market analysts, including Trader Tardigrade, believe that Dogecoin may repeat its historical price surge, targeting a rise to $1 by May 2025. Achieving this would push Dogecoin's market capitalization to nearly $100 billion, rekindling the excitement seen during the 2021 bull run.
Some catalysts support this optimistic view:
Bitcoin approaches the $94,000 level, boosting the overall market sentiment. Ethereum, Solana, and XRP recorded double-digit weekly growth. Retail interest is rising and whale accumulation is increasing.
However, Dogecoin must first overcome the important resistance level at $0.24 to unlock larger gains.
Final outlook: Solid foundation, but breakthrough confirmation needed
The fundamental factors of Dogecoin are being reinforced, and its market capitalization dominance signals renewed interest from investors. However, the path to achieving higher price levels depends on breaking through the immediate resistance level. A confirmed move above $0.1878, supported by volume, could be the spark for a price rally to $0.24—and beyond.
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Dogecoin rise 17.7% This Week: The Market Capitalization $27.8 Billion USD of DOGE Now Exceeds Cardano
Dogecoin (DOGE) once again captures all the attention. After rising 17.7% this week, DOGE now boasts a market capitalization of 27.8 billion dollars—surpassing Cardano (ADA) to reclaim the top position among major cryptocurrencies. Despite a small decrease of 1.4% in the last 24 hours, Dogecoin is still trading around $0.1810 on April 27, maintaining this price after a significant breakout. The technical backdrop indicates that Dogecoin is breaking out of a descending wedge pattern, which is typically a bullish setup. Strong support has formed around the $0.143 and $0.16 levels, providing a solid foundation for subsequent upward moves as bullish sentiment continues to grow.
Dogecoin defends the trend line as Bulls Eye $0.24 Technically, Dogecoin is still well supported on the upward trend line formed since mid-April, with the EMA 50 ($0.1788) providing further stability. The immediate resistance level is $0.1878. A breakout above this level could open the door for a test at $0.1929, with a further push towards $0.24 if the upward momentum remains strong. Trading plan: Breakthrough Buy: Above $0.1878Target Increase: $0.1929 and $0.24Support Zone: $0.1788Stop Loss: Below $0.1740 For beginners, this setup is called "trendline defense"—buyers enter along the rising support level to maintain the upward momentum. Patience is key: only act after a clean breakout with strong volume confirmation. Dogecoin: Analysts see potential to rise to $1 by 2025 Market analysts, including Trader Tardigrade, believe that Dogecoin may repeat its historical price surge, targeting a rise to $1 by May 2025. Achieving this would push Dogecoin's market capitalization to nearly $100 billion, rekindling the excitement seen during the 2021 bull run. Some catalysts support this optimistic view: Bitcoin approaches the $94,000 level, boosting the overall market sentiment. Ethereum, Solana, and XRP recorded double-digit weekly growth. Retail interest is rising and whale accumulation is increasing. However, Dogecoin must first overcome the important resistance level at $0.24 to unlock larger gains. Final outlook: Solid foundation, but breakthrough confirmation needed The fundamental factors of Dogecoin are being reinforced, and its market capitalization dominance signals renewed interest from investors. However, the path to achieving higher price levels depends on breaking through the immediate resistance level. A confirmed move above $0.1878, supported by volume, could be the spark for a price rally to $0.24—and beyond.