Dogecoin’s Bullish Momentum: Key Technical Indicators Signal Potential Breakout 🚀
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As of January 29, 2025, Dogecoin ($DOGE ) is trading at approximately $0.3283, reflecting a 3.05% increase today.
Technical analysis indicates that DOGE is forming a “cup and handle” pattern on its weekly chart, a bullish signal suggesting potential for significant upward movement. The Relative Strength Index (RSI) is approaching overbought territory, indicating strong buying momentum. Key support levels to monitor are $0.35, $0.285, and $0.22, which may serve as entry points for investors. 
Recent developments, such as Elon Musk’s appointment to lead the Department of Government Efficiency (DOGE), have further boosted investor confidence, contributing to DOGE’s recent rally. 
Analysts project that if DOGE maintains its current momentum and breaks through resistance levels, it could reach a price target of $1.385, significantly increasing its market capitalization.