- Weekly Closes let you see breakout and rally setup.
- Pattern mirror 600% surge in October 2023.
- Breakouts can change emotions across the coins of memes.
Dogecoin (Dogeusd) is currently trading at $0.2416, up 12.48% over the last 24 hours, at $0.2416 after surpassing the seven-month descending trendline that has been limiting prices since December.
The move places Doge at the strongest rally of the year.
If the weekly candle exceeds this resistance on Sunday, analysts predict potential movements to the $0.50-0.60 range, representing an additional 100-150% increase from current levels.
The setup closely reflects the breakout patterns seen in October 2023, leading to 600% of the meetings and sparked widespread retail interest.
Doge checks breakouts with price and volume spikes
Dogecoin had been trapped in a downtrend for over six months, but was repeatedly rejected with the same diagonal resistance.
This week, that pattern broke.
Doge trading suggests an early stage of a potential trend reversal for meme-inspired cryptocurrency, beyond long-term trendlines and price actions driven by rising volumes.
The price is currently at $0.2416, up over 12% per day.
This breakout candle holds strength and market activity is on the rise. This is a key factor that allows you to see a breakout if it is maintained through the weekend.
Weekly closures carry more weight than short-term spikes when interpreting long-term structures, especially those that last several months.
Breakouts open paths towards the $0.50 to $0.60 range
If the current movement is preserved, the next resistance zone for Dogecoin is in the $0.50-0.60 range.
Historical resistance is limited to that level, making it possible to achieve sharp climbs.
Dogecoin previously demonstrates that past past key levels, it can accelerate rapidly with a pullback with minimal price momentum.
This scenario came last October when Doge broke a similar pattern and surged 600% within weeks.
Although history does not guarantee repetition, structural similarities have attracted attention from chart analysts across the market, especially those tracking the behavioral patterns of memecoin.
Memecoin sentiment may shift during confirmation
Dogecoin is the largest memecoin by market capitalization and is often seen as a pioneer of the sentiment of the Altcoin sector.
Doge breakouts tend to precede the rally with smaller meme tokens.
A weekly closing confirmed this breakout could spark new interest and investment in the broader memocoin market, potentially increasing Altcoin trading volume in tandem.
The current rally coincides with early signs of recovery in the altcoin space, with tokens typically gaining momentum in response to improved market sentiment.
Dogecoin’s performance this week could indicate that the shift is already in progress.
I look closer to every Sunday week
Dogecoin has broken the inside of the downtrend, but a key milestone is the end of each week on Sunday.
The sustained nearness above the trend line validates breakouts and gives traders confidence in pursuing a higher target.
If rejected earlier, Doge can re-enter the previous range and delay bullish papers.
For now, however, structure, volume and price action all point to the continuation of potential short-term rise.
