The sentiment in the crypto market is shifting towards the bullish side, and Dogecoin (DOGE), the world’s largest and most popular meme coin, is grabbing the attention of crypto analysts and experts.
Experts’ Bullish Views on DOGE Meme Coin
A prominent crypto expert recently took to X (formerly Twitter) to share a bold prediction about DOGE. The expert expressed a bullish outlook, highlighting that DOGE has been trading within an ascending parallel channel. According to historical price momentum, if the meme coin manages to hold above the $0.16 level, there is a possibility that it could surge to $2.74 or even $6.24 in the near future.
Current Price Momentum
On March 6, 2025, the overall sentiment in the crypto market is bullish, with major assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) witnessing significant gains of 3.25%, 2.80%, and 2.15%, respectively.
Dogecoin (DOGE) Price Action and Upcoming Levels
In the midst of this bullish momentum, DOGE has recorded a 3.29% increase in the last 24 hours, reaching a trading price of around $0.204. However, despite the ongoing price recovery, the trading volume of the meme coin has dropped by 45%, indicating lower participation from traders and investors compared to the previous day.
According to Coinpedia’s technical analysis, DOGE is currently facing resistance near the $0.205 level. If the meme coin manages to break through this resistance and close a daily candle above $0.21, it could potentially surge by 18% to reach $0.245 in the days ahead.
Another supporting factor for the bullish outlook on DOGE is the recent retest of a crucial support level. Following a price drop, the meme coin found strong support at $0.18 and is now moving upwards. The daily chart shows that this support level has historically triggered bullish price reversals.
In conclusion, with experts expressing bullish views and the current price momentum in the crypto market, Dogecoin (DOGE) seems poised for potential growth in the coming days. Investors and traders will be closely monitoring the price action and key levels to capitalize on the anticipated upward trend.