{"659e75c218ce934f79b174fad0728263":"Key takeaways:","618d1864f7fa74149f4776ac1e8dc4f8":" Dogecoin has broken out of a multimonth symmetrical triangle.","8f837d93167a57ec55e63e3fe76bb903":" Trading volumes tripled during the breakout, signaling strong bullish momentum.","0b3d320891d398e061dc9edf4560f542":"Dogecoin (DOGE) price has rallied by nearly 40% in the past seven days, beating the broader crypto market, which has gained nearly 8% in the same period.","c0a8f3a98895becc1ef9053e6cd39631":" DOGE\/USD vs. TOTAL crypto market cap daily chart. Source: TradingView","3e8aa37f606321de0b9a8ed87c2355df":"The top memecoin now hints at further price growth in the coming weeks, due to a mix of technical and onchain factors.","94fd9b836506cb2cde0fbb173f7ca615":"DOGE price breakout hints at 95% gains ahead","b5b846ddfbbfb3ec48857f011cebf64f":"The weekly DOGE price chart shows a breakout from a multimonth symmetrical triangle, a bullish continuation pattern.","1bc76cb293b1fad97926326cb285ec93":"As of Saturday, it is trading at around $0.296. But more importantly, its trading volumes during the breakout more than tripled, signifying strong upside momentum.","339b6630bc791a89733c1306f6a2ac92":" DOGE\/USD weekly price chart. Source: TradingView","60cd639f85a9dec089bd526e17284d3c":"DOGE price can now rise as high as the triangle\u2019s maximum height, putting its breakout target at around $0.60, up approximately 95% from the current price levels, by October.","9809da7e42543e37537b86ff9aa0b953":"Some chartists, including CryptoKing and CryptoGoos, have put their symmetrical triangle targets slightly lower at $0.45. That aligns with the upper trendline of another multiyear and much broader triangle pattern, as shown below.","3bc90042e38d30a8dfcd4d90e8f8ef1e":"Dogecoin\u2019s relative strength index (RSI) reinforces the bullish setup after treading below its overbought threshold of 70.","04ab59a64ef29ffd4fc6e4dea89ce8d4":"However, DOGE bulls must defend support at its 50-week exponential moving average (50-week EMA; the red wave) near $0.227 to validate the setup. A decisive close below the floor may push Dogecoin lower toward the 200-week EMA at around $0.215.","05292f89918ba3c6fd412af820c388d7":"Can DOGE repeat last November\u2019s 230% gains?","98f636c378fe04b1c2041c374fd9a337":"Dogecoin\u2019s MVRV Z-Score sits near 1.35 as of Saturday, a level that in past cycles has often appeared just before major rallies, including last November\u2019s 230% gains.","15ac6076e75ac9f11a4680e7221baaec":" DOGE MVRV Z-Score vs. price chart. Source: Glassnode","941d0302c29305365b959ed873086045":"The MVRV Z-Score measures whether DOGE is overpriced or underpriced compared to what most holders originally paid.","3eeeba395210ff747b6fe196afe62bc4":"A very high score (particularly above the red area) means the market is overheated because investors are sitting on big unrealized profits. A very low score (below the green area) suggests undervaluation, where most holders are at or below their cost basis.","038c6ba90d1e472fc2e1020eec2d898d":"In 2021, for example, the Z-Score surged above 20 when DOGE hit its $0.70 peak, flashing clear signs of market excess.","05f8bada99886f92d2ea86a8eb5b4b71":"Related: Dogecoin price rises despite latest delay of US DOGE ETF launch","be517134bccb237f1ea17c380845c97d":"Today\u2019s modest 1.35 reading signals the opposite: holders aren\u2019t sitting on extreme gains, leaving plenty of room for price to climb before overbought conditions arise.","03e5ecad6f95f413ec2581cb23b46a9a":"This further indicates DOGE still has significant room to grow in the coming weeks.","fb27859bbb65e7117067f09ca71461c0":"This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision."}