🚀 Dogecoin Rally: Can $DOGE Hit $1.25? 🚀

Dogecoin ($DOGE) is back in the spotlight, surging past $0.40 after months of consolidation. What’s fueling this bullish momentum? Let’s break it down:

1️⃣ Gary Gensler’s Exit: The resignation of SEC Chairman Gary Gensler, known for his strict crypto policies, has sparked optimism across the market. Traders are viewing this as a shift towards a more crypto-friendly environment.

2️⃣ Bullish Sentiment: Leveraged data reveals $355.5M in long positions, far outweighing $193M in shorts. This indicates growing confidence among traders that DOGE will continue its upward trend.

3️⃣ Market Optimism: The global crypto market has hit $3.25 trillion, lifting major altcoins like Dogecoin. Within 24 hours, DOGE gained 13%, breaking the $0.42 level.

4️⃣ Technical Indicators: Dogecoin is holding strong above its key support at $0.40, with $0.45 emerging as the next major resistance. Bollinger Bands signal rising volatility, suggesting a significant price move is on the horizon.

🔮 Next Targets:

A breakout above $0.45 could pave the way for $0.6533.

If $0.6533 is breached, DOGE could rally further, potentially reaching $1.25, a level not seen since 2021.

📊 What to Watch For:

Rising long positions could lead to a short squeeze, further driving up prices.

Analysts suggest that with current bullish momentum, DOGE’s path to $1.25 is more realistic than ever.

As the market remains volatile, all eyes are on Dogecoin. Will it sustain this momentum and shatter new highs? Let us know your thoughts in the comments!

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@Vikasjangracrypto