$DOGE Testing the Crucial Support - CoinPedia Analytics

The recent surge in Dogecoin's price has sparked renewed optimism among traders, with many expecting a significant rally. After breaking through the key resistance level of $0.16, DOGE has been consolidating just below $0.175. This consolidation suggests that the bulls are preparing for another push. The increased attention around memecoins, especially following Elon Musk's plans to save $2 trillion in taxpayer money during Donald Trump’s campaign, has added momentum to DOGE's price action.

Technicals point to a potential breakout, with the current symmetrical triangle pattern resembling the 2021 bull run. The RSI also mirrors the 2021 pattern, indicating strong bullish sentiment. A short-term Golden Cross is forming, and a long-term version may follow, reinforcing hopes for a major upswing. If the breakout happens, DOGE could surpass $1 and potentially reach new all-time highs, possibly above a two-digit figure. The market is closely watching for the next move as DOGE gears up for another historic rally.