Dogecoin (DOGE) has surged to new heights, breaking above key resistance levels to reach a record high of over $4,500. Analysts believe this surge is driven by expanding DeFi applications and increasing institutional investment. The price action suggests a strong bullish trend with several indicators confirming it. Technical analysis reveals that DOGE traded above its 5-day, 10-day, and 20-day moving averages, signaling powerful buying momentum. This strong short-term buying pressure has led to the breakout of a major resistance trendline, further supporting the bullish sentiment. The RSI is currently in overbought territory, while the MACD indicator remains bullish, indicating sustained strength. While some traders are observing potential for pullbacks due to high RSI levels, the overall market trend points towards potential price rises. 2023 data suggests similar patterns may occur, as seen during a notable surge in February. However, caution is warranted when observing short-term fluctuations. 2023 trading history shows significant price movements after DOGE builds momentum. Target prices above $0.28 and even near all-time highs are being discussed. Some traders are speculating if the breakout can take the coin past $0.65 and towards $1.00. In recent weeks, short-term selling pressure has been observed, but overall the market trend remains positive for DOGE with support at around $0.175. Short sellers have taken advantage of opportunities to sell near intraday peaks as the price has activated its former supply region. With a decrease in leverage and increased organic price movements, analysts believe that Dogecoin’s bullish outlook will continue unless key support levels are broken down. Recent data on liquidations offers further confirmation of this positive trend. Recent liquidation data points to a potential breakout for DOGE, showcasing that heavily leveraged traders have been cleared out. This has led to more volatile and organic price movements. The post-liquidation market conditions tend to favor strong moves in assets like Dogecoin. Historical trends from CoinGlass also confirm this possibility: after periods of quiet trading and low leverage, DOGE tends to experience sharp, rapid price rallies, making it a high-growth potential asset. The article