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<\/p>\nDogecoin, the world\u2019s largest meme cryptocurrency by market capitalization, has managed to fly under the radar despite the recent surge in the broader cryptocurrency market.<\/p>\n
While major cryptocurrencies have been making headlines, Dogecoin has quietly surged just over 9% in the past seven days, riding the wave of the overall market surge and briefly touching a high of 0.07466 last Thursday.<\/p>\n
This surge is particularly noteworthy as Dogecoin had languished in a lull since June 2022, with the crypto consolidating sideways and finding a yearly low around the $0.06 mark. However, earlier last week, its price managed to break out of this slump, offering a glimmer of hope for DOGE enthusiasts.<\/p>\n
Notably, the resurgence in Dogecoin’s value is linked to the broader market resurgence, which has been ignited by heightened market optimism surrounding the potential approval of a Bitcoin Exchange-Traded Fund (ETF) in recent weeks.<\/p>\n
That said, following the recent surge, crypto experts have also pointed to technical indicators suggesting a potential breakout for Dogecoin. On Sunday, popular crypto analyst Ali Martinez highlighted positive candlestick patterns and a TD Sequential buy signal, indicating that Dogecoin might be poised for a significant move.<\/p>\n
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\u201cDogecoin shows promising signs, breaking out from a multi-year descending triangle on the DOGE weekly chart! The confirmation of a buy signal from the TD Sequential indicator within this timeframe reinforces DOGE bullish outlook.\u201d<\/em> Wrote Ali.<\/p>\n Moreover, an intriguing “Double Bottom” pattern has emerged when viewed in the four-hour timeframe, with some experts saying it could potentially propel Dogecoin up by 20%, dependent on favourable market conditions.<\/p>\n Nonetheless, challenges persist for Dogecoin as it encounters a significant resistance point at the $0.075 mark. To increase its recovery, the price must remain above the initial support level of $0.067. Should this condition be met, it opens the door for a potential additional 20% recovery, with a target price set at $0.085.<\/p>\n That said, the lingering question that hangs over Dogecoin is whether it can ever attain the much-anticipated milestone of $1. It shall be recalled that in May 2021, Dogecoin soared to an all-time high of $0.73 during the cryptocurrency market’s bullish phase. Yet, despite the passionate endorsement of Elon Musk, the coin later descended into a downturn, effectively adding an extra zero to its valuation.<\/p>\n Some experts have suggested that the prospects for Dogecoin reaching $1 by the end of the decade in 2030 appear slim. Notably, reaching this psychological threshold would require a substantial 1,200%\u00a0increase from its current value.<\/p>\n According to one Dogecoin enthusiast, the maximum value Dogecoin could reach is $0.61, possibly in 2028, falling short of its previous all-time high. In a more pessimistic scenario, he noted that Dogecoin’s value could dip to $0.12 between 2029 and 2030.<\/p>\n At press time, DOGE was trading at $0.068 after a 1.15% drop over the past 24 hours.<\/p>\n![\"\"\/](\"https:\/\/lh7-us.googleusercontent.com\/WjY9dB1mhouUjkADgob0u1NKcHruqGnqtCF0jcUvMvSOhkmEmaG8sAhIS27dnvgN6nI9ksoY_kEuN4ge48KMDkkoP8A8dvgctBKRHqLA2nLfAwkzR9XaitGLJ9Vd1dwb8eLqj12HSheCglIkj27bZA\")