Opinion: DOGE shows bullish trend, with weekly gains of nearly 15%

As reported by CryptoPotato, DOGE is up nearly 15% this week, approaching $0.17, with analysts predicting a bullish trend due to a breakout of multi-year resistance and increased trading volume. The recovery in the cryptocurrency market has been evident over the past few days, with Bitcoin (BTC) regaining the $64,000 mark and Ethereum (ETH) climbing above $3,100. However, the gains for Dogecoin (DOGE), the largest meme coin by market capitalization, were even more significant.

According to many analysts, the recent rally has created a major bullish environment for DOGE, meaning its value could rise significantly in the coming months. Rekt Capital, a user with nearly 500,000 followers on the social media platform, supported this view, claiming that Dogecoin “converted years of resistance into new support,” creating a “new macro uptrend.” Crypto Catalysts was even more bullish, highlighting the Meme coin’s increased daily trading volume and “regaining weekly levels” as positive factors. This user believes DOGE’s path to the $1 milestone is clear.

Ali Martinez, another crypto analyst, also expressed his views on this. He was not panicked by last week’s market drop and DOGE’s price collapse, believing that DOGE’s pullback may be “normal behavior before a large-scale bull market.” He pointed out that over the past few years, the price of Meme coins has declined before rising significantly.