Last week was another positive period for Dogecoin price. After ending the previous week’s consolidation phase, the meme cryptocurrency continued the trend into the early part of the new week. However, Dogecoin price started a new rally of 25% on Friday, November 22, setting a new 2024 high.



Interestingly, this fresh rally has seen Dogecoin price break above the bull flag. Such a rally brings into focus the idea that Dogecoin price could hit a new all-time high before the end of the year.

Dogecoin Price Rebound Predicts Breakout to $0.82

The King of Memecoins As the week draws to a close, Dogecoin has surged by about 25%, reaching an intraday high of $0.4759 on Saturday. The rally is particularly noteworthy as it shows that the price of Dogecoin has finally resumed another upward move after a brief consolidation since hitting $0.43 early on November 14.

Ali Martinez, a well-known cryptocurrency analyst, highlighted the significance of this rally in an article on X, drawing attention to Dogecoin’s decisive breakout above a bull flag. According to Martinez, this technical breakout could set the stage for a larger rally, with his forecast target being $0.82. If reached, this price level would represent an impressive gain of about 90% over the current Dogecoin price.




How feasible is it for Dogecoin to rebound to $0.82?

Before Dogecoin price can rebound to the $0.82 price level, it will first need to break through its long-standing all-time high of $0.7316, a milestone that has not been broken in more than three years. At the time of writing, Dogecoin is trading at $0.4287, a slight pullback from its recent intraday peak of $0.4759.





This retreat suggests that the consolidation phase is not yet complete, as resistance appears to have formed around $0.43 and created a sell wall that must be overcome.  A breakout above the all-time high will first require Dogecoin to decisively and consistently break above the $0.43 threshold, which remains a critical level to resume upward momentum.

Interestingly, recent whale activity suggests that the memecoin could rise in the coming week. On-chain data shows that large holders, or “whales,” have been actively accumulating, purchasing more than 550 million DOGE tokens, worth approximately $214.5 million.





These whale addresses typically hold between 10 million and 100 million DOGE and are often seen as influential in shaping market trends. Their growing activity could indicate confidence in the Dogecoin price and provide the necessary support for a sharp move above $0.43 this week.