Dogecoin price hovered above $0.10 on Saturday as traders assessed momentum. Market analysts said bulls are targeting a potential move toward $0.20. The DOGE has been trading sideways in recent weeks, but a fresh wave of buying can trigger a breakout rally this month.
Here’s why Dogecoin Price could surge to $0.20 This Month
Dogecoin price could advance toward the $0.20 mark this month as momentum builds across major meme tokens.
The recent rise in assets like SHIB, PEPE, Pump, BONK, and Pengu indicates a resurgence of interest in speculative assets.
The overall meme market cap is around 35.3 billion following a 2.3% increase in the day. Analysts observe that a second run in the market would be possible should Bitcoin and Ethereum continue their recent gains.
Other asset-backed holdings, such as XRP, Solana, and Cardano, would increase risk appetite and propel Dogecoin.
The world crypto market has increased by 1.88% to 2.35 trillion over the last day. Spot ETFs remain a growing form of visibility, with the latest inflows of approximately 9.05 million.
On-chain indicators also demonstrate higher accumulation of whales and active addresses. These changes are indicative of sentiment improvement and a possible shift towards greater price levels.
Dogecoin Builds Cup-and-Handle Formation, Raising Breakout Expectations
A crypto analyst has highlighted a familiar bullish setup forming on the 24-hour chart. He has observed that the meme coin is building a cup-and-handle, which usually indicates a breakout.
The analyst says that Dogecoin has recently filled a clean cup shape following a stable recovery. The price now seems to be drawing the handle, which is the last step, before a possible increase.
His chart reveals that the cup has a rounded bottom that is followed by a slight pullback that defines the handle.
The above handle breakout may enhance bullishness in case buyers remain in control.
Dogecoin Price Eyes a 100% Breakout as Holds Key Support
As of the reporting, the DOGE price traded at $0.10, showing a slight surge of 3% over the past 24-hours.
The Chaikin Money Flow indicated around 0.04 that there was a light accumulation coming back after a sluggish season.
The RSI values were around 52, indicating neutral momentum without exhaustion. The indicator moved slightly upwards, with new purchasing interest slowly developing.
Technical levels outlined the definite upward targets. A breakout above $0.12 may guide DOGE toward $0.15, where stronger resistance could appear.
Continued strength above that zone may open a path toward $0.20, which marked the major range high on the chart. The long-term Dogecoin forecast shows a potential expansion exceeding 100% from the current price.
Any fall below $0.10 can subject DOGE to the $0.09 support that acted as the lower limit to the chart. The loss of control over that territory may encourage further pressure and undermine short-term trust.
