Dogecoin Alami Breakout, Ready For OTW Bull Run

Dogecoinami Breakout, siap OTW Bull Run (Foto; Doc. Scripsnews)

JAKARTA - Dogecoin (DOGE) managed to record a significant breakout, triggering expectations of a potential long-term price increase. With a price spike of up to 0.1040 US Dollars (Rp1,601), DOGE managed to penetrate an important resistance level, giving a much-needed momentum after weeks of consolidation and pressure fell.

From graphic analysis, DOGE began to show signs of strong bullish movement. These coins managed to penetrate the 50-day and 100-day moving averages, which are a positive signal for traders. Currently, DOGE is testing the 200-day Exponential Moving Average (EMA) around the level of 0.1156 US Dollars (Rp1,779). If DOGE manages to pass this level, it could be an indication of a fully trend reversal.

The increase in trading volume also supports this price action, strengthening the credibility of the breakout that occurred. In addition, the Relative Strength Index (RSI) indicator is at 52, showing that DOGE is still in a neutral area and has room to rise further without being overbought.

If DOGE is able to close prices above the range of 0.11 US Dollars to 0.12 US Dollars (Rp1,693 to Rp1,847), then this technical configuration opens up opportunities for further rallies. On-chain data also strengthens this optimism, with increased transaction volume and the increasing number of active addresses connected to the Dogecoin network.

This phenomenon is often a sign of growing interest from retail and institutional investors. Big activity from largeholders (whole) is also starting to show, with some of them moving significant amounts of DOGE indicating that they may be preparing to make a profit in the future.

Despite a lot of optimism, DOGE still faces strong resistance in the range of 0.12 US Dollars to 0.13 US Dollars (Rp1,847 to Rp2,001). If DOGE is able to get past this level, the long-term bull run potential could become a reality. However, if this momentum fails to be maintained, there will most likely be significant price corrections.