Dogecoin Breaks Out of Falling Wedge, Eyes $0.41 as Next Target

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crypto expert Kevin Capital shares his perspectives on the recent movements in Dogecoin‘s value. In his assessment, the significant level to watch out for in the near future regarding the leading meme currency is $0.41.

$0.41 The Next Important Level As Dogecoin Closes Outside Falling Wedge Pattern

In a recent post on X, Kevin Capital disclosed that Dogecoin has concluded its daily trading session beyond the boundaries of the falling wedge pattern. The analyst added that the popular meme currency is currently engaged in a struggle against the daily super trend and subsequently the .786 Fibonacci level, which is approximately $0.41. He pointed out that there’s still much to accomplish, but this development is encouraging.

After discussing further advancements, Kevin Capital highlighted that Dogecoin’s future actions might be influenced by Bitcoin‘s next price movements. The analyst appeared to express caution, as he pointed out that Bitcoin has yet to break free from its downward trending pattern. Consequently, if Bitcoin experiences a rejection at its current price point, the existing Dogecoin setup could potentially falter.

Previously, the crypto expert had advised against excessive enthusiasm regarding Dogecoin’s recent price fluctuations compared to Bitcoin’s trends. He suggested that investors should approach Bitcoin’s price trend with a degree of caution until the leading cryptocurrency surpasses the $104,000 mark and breaks free from its lower high pattern.

The crypto expert clarified that while he’s glad about the market’s recent positive trends, he cautions against excessive optimism because there’s still much to accomplish. He noted that Dogecoin, despite exhibiting indications of a bullish turnaround, hasn’t quite left its challenges behind yet.

DOGE To $1 Is Looking Imminent

In a recent post on X, crypto expert Mikybull Crypto expressed optimism about Dogecoin’s price. He believes that Dogecoin could potentially reach $1 and possibly even go beyond to $1.10. This anticipated price surge is predicted to commence once Dogecoin breaks free from the consolidation triangle identified by Mikybull Crypto.

According to CoinCodex’s artificial intelligence model, there’s a possibility that Dogecoin might surge towards $1 by March. Meanwhile, crypto expert Master Kenobi believes that Donald Trump’s return to office could ignite a price surge for the popular meme coin, potentially reaching the $1 mark.

It seems that large Dogecoin investors, or “whales,” are preparing for an increase in price, as they’ve been purchasing vast amounts. According to crypto expert Ali Martinez, these investors have recently acquired approximately 200 million Dogecoins within the past 48 hours.

Currently, as I’m typing this, the value of Dogecoin stands approximately at $0.39. In the past 24 hours, it has seen an increase of more than 4%. These figures are based on information gathered from CoinMarketCap.

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2025-01-17 19:11