Well-known trading guru Peter Brandt has high hopes for the future trend of Dogecoin. His latest DOGE/USDT chart reveals that the currency is gradually breaking free from the downward shackles that have lasted for half a year, a sign that strongly suggests the possibility of price increases. Looking back, DOGE fluctuated steadily in a narrow range of $0.05 to $0.1181 between July 2022 and July 2024, until it broke through in March this year and hit a high of $0.2100. Now, DOGE has once again demonstrated its breakthrough potential and seems to be about to open a new upward chapter.
Brandt publicly expressed his optimism about the long-term performance of Dogecoin on social media, and he cheered up DOGE holders with the encouraging words "Come on, puppy!" The market responded enthusiastically. In the past 24 hours, Bitcoin rose by 4%, while DOGE performed even better, soaring by 14.9%, hitting a new high of $0.1236. Although it has slightly corrected, it is still stable around $0.1225.
Ali Martinez, an analyst in the cryptocurrency field, also affirmed DOGE's breakthrough. He pointed out that Dogecoin is actively seeking further market confirmation after successfully crossing the key resistance level of $0.111. In addition, he also mentioned that there are currently more than 62,000 crypto wallets holding a total of more than 36 billion DOGE. If this upward trend can continue, it may stimulate more upward momentum. Martinez predicts that Dogecoin is expected to smoothly move towards a new milestone of $0.150.
It is worth noting that large holders have been active recently. They have purchased up to 1.4 billion DOGE through centralized exchanges in the past two days. This move has undoubtedly injected a shot in the arm for the market and further boosted investors' confidence in Dogecoin.
At the same time, Billy Marcus, co-founder of Dogecoin, also actively spoke out, calling on the U.S. Securities and Exchange Commission (SEC) to formally recognize DOGE as a non-securities asset, emphasizing its similarity to Bitcoin, both of which are built on similar code bases, and Bitcoin has been widely regarded as a commodity. This call not only reflects the Dogecoin team's emphasis on project compliance, but also reflects their firm belief in the future development prospects of DOGE.
