Dogecoin Price Surge Gains Momentum as DOGE Targets a Major Breakout
Analysts Point to RSI Trends, Whale Accumulation, and ETF Speculation
Key Highlights:
- Dogecoin is trading above $0.25, with further gains in sight.
- RSI analysis suggests DOGE may continue its rally before reaching a peak.
- Breaking the $0.35 resistance level could accelerate upward momentum.
Dogecoin Poised for a Potential Breakout
Dogecoin (DOGE) appears to be on the verge of a significant rally, with analysts speculating that its price could soar to $10. Despite market fluctuations, DOGE has managed to hold key support levels, keeping investor sentiment bullish. While other tokens struggle to recover, Dogecoin’s price movement remains optimistic, with traders closely monitoring resistance zones for confirmation of an extended uptrend.
DOGE Could Reach $10 Before a Market Top
A well-known crypto trader has suggested that Dogecoin still has room to climb before reaching its peak. In a recent post on X (formerly Twitter), the analyst highlighted a key retracement in the Relative Strength Index (RSI) on the two-week chart, indicating that DOGE has yet to reach an overbought state.
Historically, Dogecoin has shown strong rallies before the RSI reaches a critical overbought level, signaling a potential peak. The current analysis suggests that this pattern is repeating, with DOGE retracing but not yet hitting its previous topping-out thresholds.
If historical trends persist, Dogecoin could continue its bullish momentum toward $10 before experiencing a major correction.
Will Dogecoin Rebound Further?
DOGE has undergone a bearish phase, dropping from its December high of $0.4845 to a low of $0.265. However, analysts believe several key catalysts could drive a recovery.
With Bitcoin approaching the $100K mark, altcoins like DOGE could experience renewed momentum. Additionally, speculation is rising about a potential spot Dogecoin ETF gaining regulatory approval. Increased whale accumulation and growing enthusiasm for meme coins further add to the bullish outlook. However, broader market trends will play a crucial role in determining Dogecoin’s long-term trajectory.
Short-Term Technical Analysis for DOGE
As of February 17, Dogecoin is priced at $0.265, reflecting a 0.73% gain over the past 24 hours. The coin is maintaining stability above the $0.25 support level, despite market fluctuations.
The MACD histogram is trending downward, indicating that bearish momentum still exists. Additionally, the MACD line remains slightly below the signal line, signaling potential consolidation before another breakout.
The 4-hour RSI currently stands at 47, sitting near the neutral zone. The primary support remains at $0.25, which has withstood selling pressure. A drop below this level could lead to a retest at $0.20. On the upside, breaking past $0.35 could set the stage for a climb toward $0.40. 
Dogecoin’s Path to $10
With positive market sentiment and strong technical indicators, DOGE could continue its upward trajectory until a top signal appears. Analysts remain optimistic, suggesting that the meme coin may have more room to run before facing a potential correction.
