Dogecoin Price Prediction: DOGE Soars to a 3-Year High of $0.297, Can it Break $0.15 by the End of October?

Bitcoin, the leading cryptocurrency, soared to a new all-time high of $80,100 on November 10, triggering a broader market breakout.

.297, Can it Break .15 by the End of October?" >

Bitcoin’s new all-time high triggered a broader market breakout. While most major altcoins followed the same momentum, the meme cryptocurrency experienced a high-momentum rally driven by its inherent volatility and appeal among speculative traders.

With an 80% weekly surge, the Dogecoin price rallied to a 3-year high of $0.297. At press time, DOGE price trades at $0.26, showing an intraday gain of 3.2%. According to Coingecko, the asset market cap holds at $38.4 Billion with a 24-hour trading volume of $12.7 Billion.

Dogecoin price shows no signs of slowing down after a remarkable 80% weekly surge from the intraday lows of $0.148 on November 4. The meme coin began a steady recovery from the bottom support of $0.091, marked in early September. The formation of fresh higher highs and lows, backed by increasing training volume, accentuates the buyers’ conviction to drive a sustained uptrend.

However, the cryptocurrency market experienced an accelerated recovery this week following Donald Trump’s victory as the 47th President of the United States. An analysis of the weekly chart shows the massive green candle gives a breakout from the $0.228 neckline of a cup and handle pattern.

This pattern begins with the “cup,” created by a rounded bottom following a decline, signifying a gradual recovery phase as selling pressure subsides and buyers return. The subsequent “handle” forms a brief consolidation or pullback near the resistance level, recuperating the exhausted bullish breakout.

If the breakout is sustained, the Dogecoin price prediction could target $0.4, accounting for a 53% potential surge.

On the other hand, if the bears manage to pull the price back below the cup and handle neckline at $0.228, it could invalidate the bullish setup and lead to further consolidation or a potential downtrend.

Whale wallets holding between 100 billion and 1 billion coins have significantly increased their accumulation, as per Santiment data. The whale wallets began the month with 2.68 million coins, which rose to 30.56 million coins by press time. This massive accumulation could indicate a potential trend reversal for DOGE, suggesting that whales are anticipating a significant price movement.

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