Dogecoin (DOGE), the meme coin thatā€™s captured hearts worldwide, has been making waves again! After a bullish rally following Donald Trumpā€™s victory in the U.S. presidential election, DOGE has surged over 150%. Currently, itā€™s consolidating between $0.353 and $0.428, but the charts are showing signs of an exciting breakout on the horizon. šŸ“ˆ

Technical Analysis:

1. Ascending Triangle Formation: DOGE has formed a bullish ascending triangle pattern, suggesting that a breakout could be imminent. If DOGE successfully closes above the $0.45 mark, it might soar 30% higher, potentially reaching $0.57 in the near term! šŸš€

2. Selling Pressure at $0.45: Despite the bullish pattern, DOGE has historically encountered resistance at this price level. The key is to watch for a daily close above this zone to confirm the next leg up.

Bullish On-Chain Metrics:

1. Open Interest Surge: DOGEā€™s open interest has increased by 17% in the past 24 hours, indicating strong investor confidence. Traders are actively opening new positions, expecting a bullish trend.

2. Whale Activity: Large transactions from whales have increased by 41.15%, showing that big players are jumping into DOGE, possibly positioning for a larger rally. šŸ‹

Current Price and Momentum:

At press time, DOGE is trading around $0.43, up 8.15% in the last 24 hours. The 5.5% increase in trading volume indicates heightened market participation, fueling the upward momentum. šŸ“Š

Whatā€™s Next?

If DOGE breaks above the $0.45 barrier, the $0.57 target could be in play.

Watch for strong participation and continued whale interest, as these factors could push DOGE to new highs.

Ideal Strategy:

Buy Zones: Consider entering near $0.42-$0.43 if you believe in the breakout potential.

Targets: $0.45 (initial resistance), followed by $0.57 (bullish extension).

Stop-Loss: Keep it below $0.40 to minimize risk.

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