Dogecoin (DOGE), the popular meme coin, has faced ongoing pressure, struggling to regain its momentum after weeks of consolidation. However, the broader crypto market shows signs of recovery, with Bitcoin surging past $97,000, and Dogecoin saw a notable 5% rally on Thursday. Optimism is building as the DOGE community eagerly anticipates Changpeng Zhao’s (CZ) long-awaited official dog reveal, which could potentially spark a surge in sentiment and price action.
CZ, the former CEO of Binance, has already made waves in the market with his past comments and references to certain tokens, causing their values to skyrocket. His recent hints about unveiling his pet dog have set the crypto world abuzz, with speculations growing about a new wave of dog-themed cryptocurrencies. If CZ endorses a dog-related meme coin, it could drive a significant surge in market activity, benefiting established coins like Dogecoin, Shiba Inu, and newer entrants like Floki.
Dogecoin, which has historically followed hype-driven cycles, could be poised for a fresh bull run should CZ’s endorsement materialize. The current price of DOGE, hovering around $0.25, shows signs of a potential bullish reversal. The coin appears to be forming a Power of 3 setup—a technical pattern suggesting that the asset is building a strong base before an upward expansion.
For DOGE to confirm a breakout, it must flip the $0.35680 resistance level into support. If successful, the coin could target higher resistance levels of $0.48434 and $0.70664, aligned with Fibonacci extensions. In an optimistic scenario, Dogecoin could surge by approximately 165%, reaching $1.30 as its next major milestone.
However, if Dogecoin fails to reclaim these resistances, price rejection and further consolidation near key support zones like $0.20 are possible. As the community waits for CZ’s dog reveal, all eyes are on DOGE’s ability to maintain momentum and capitalize on potential market shifts.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Dogecoin (DOGE) Signals Bullish Breakout: Key Resistance Levels and Whale Activity Insights
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