Dogecoin is preparing for a breakthrough at $ 3

Analysts predict a possible breakthrough of Dogecoin DOGE $0.18 Binance-Peg Dogecoin 1.74% Market capitalization $0.46 billion VOL. 24 hours $0.12 billion , which could raise its value to $ 3, a value that was previously considered unlikely. This assessment is based on technical analysis and changes in market sentiment, according to NewsBTC. Despite the fluctuations, the cryptocurrency shows signs of readiness for growth.

According to experts, Dogecoin is currently in the accumulation phase after a long period of consolidation. The chart shows that the asset is trading within a technical triangle, a breakout from which could be a catalyst for a new impetus. The key level remains the area around $ 0.20-$ 0.25. In the event of a successful breakout, the next growth targets may be $ 0.50, $ 1, and even $ 3 in the medium term.

The general market background adds to the optimism: bitcoin BTC $107,084.36 Bitcoin 1.63% Market capitalization $2.13 trillion VOL. 24 hours $1.01 billion is holding above $ 100,000, and large investors are looking for altcoins with potential. Additionally, the activity of Elon Musk, CEO of Tesla, who has repeatedly mentioned this cryptocurrency, has historically had a positive impact on Dogecoin. Analysts believe that such information support can significantly fuel demand.

Technical indicators, such as the RSI (Relative Strength Index), remain in the neutral zone, which allows us to hope for further upward movement without the need for a serious correction. Nevertheless, experts warn that Dogecoin has to go through several important phases to reach $ 3, and the market must remain stable or growing.

Currently, the situation is developing within a scenario with high potential, but also with inevitable risks. The forecasted growth is only possible if the general investor interest in the altcoin market remains. In the event of an unfavorable macroeconomic situation or a drop in bitcoin, Dogecoin could return to lower levels again.