Dogecoin is currently trading at $0.06469 and is down 3.39% at the time of writing. The leading memecoin has been declining for some time, with plenty of resistance stopping DOGE from a potential breakout. However, price predictions for Dogecoin are suddenly rising, as recent developments hint at a potential breakout.
Leading cryptocurrency experts believe Dogecoin has an upside potential of 1,060% in the coming years. Here’s how DOGE can possibly see a breakout soon after a slumping 2023.
Dogecoin Price Prediction: Is a Breakout Coming?
Between April 3 and June 9, DOGE lost 50% of its market value. It also produced a local bottom at $0.0530. Since then though, the meme coin has begun recovering, rallying 28%, and has come face-to-face with the declining trend line again.
A successful breakout above this resistance level will confirm Dogecoin price is becoming bullish. If this happens, DOGE could eye the liquidity resting above the equal highs at $0.0721.
According to current market patterns, if the bullish momentum continues, the Dogecoin price could eye $0.0814. This move would mean a 20% gain from DOGE’s current price.
This is of course dependent on everything going right for DOGE over the coming weeks. However, DOGE is due for a breakout eventually. With Pepecoin hot on its tail, DOGE supporters and holders home this potential rise is the start of an extended bullish period for Dogecoin. This can also start a monumental rise for DOGE over the coming years until 2030.