Dogecoin (DOGE) Breakout Imminent as Bulls Target New All-Time Highs

Dogecoin (DOGE) traders are eyeing an imminent breakout in the asset’s price this month. This is contingent on bulls maintaining recent pressure past the $0.2 resistance to trigger a larger climb.

Projections for a $1 DOGE price resurface as holders draw lines with leading altcoins ahead of the next cycle. Recently, meme coins have seen double-digit gains following the wider market’s jump.

DOGE Traders Lock-In New Highs

In the past 48 hours, Dogecoin holders have fancied the asset’s trajectory of breaking past its all-time high. According to crypto analyst Ali Martinez, a move past the $0.2 price range could trigger a significant jump to a new all-time high.

“If Dogecoin (DOGE) can secure a monthly close above $0.20, it could pave the way for a rally toward its all-time high of $0.74. Such a breakout would signal strong bullish momentum and potentially attract increased investor interest.”

This would be pivotal to trader sentiments as a 500% spike is needed to hit the mark.

Currently, Dogecoin is trading at $0.1767 and has slipped 2%. However, weekly figures remain strong above 9.9% after meme coins found their upward form.

Dogecoin traders have also held on to favorable sentiments since Donald Trump’s return to the White House. Typically, investors saw it as an opportunity to back the asset class, and a project Trump to bring was favorable legislation for the crypto market.

Bank Togetherness: A Dream for Crypto

The past week saw Bitcoin price testing the $85k handle with a potential to set higher lows in the next seven days. This was a factor in the altcoin market’s rebound, especially for Ethereum (ETH) which rose 12% to retest the $1,700 level.

The asset exchanges at $2,340 today as traders align for an altcoin season ahead of the next cycle.

Among the biggest gainers in the past two weeks is XRP, as its market cap reclaimed the $140 billion mark. XRP bulls now target a higher $2.90 price based on rising institutional demand.

While ADA bulls look to conquer $1, Solana also falls into this category with expected spot ETFs in the United States.

Meanwhile, meme coins saw similar growth with total inflows over the $8 billion mark. Shiba Inu and PEPE recorded 7% and 9.3% gains, respectively, last week.