Dogecoin Price Hits New Highs, Could $1 Be Inevitable?

Dogecoin price has seen significant growth in recent months, reaching new highs around the $0.26 mark. This upward trend is fueled by positive technical analysis that suggests a potential breakout towards higher levels. Analysts highlight key signals: a cup-and-handle pattern on monthly charts and a strong rising channel on daily charts. 21% monthly gains indicate strong bullish momentum, but traders are closely watching for confirmation. Two analysts, Mikybull Crypto and Stonk Chris, offered insights into the potential breakout. Mikybull identified a cup-and-handle pattern, suggesting a possible target of $0.54-$0.58. On the daily chart, they see a rising channel confirming this bullish trend. 2.8% gains in the past 24 hours and momentum gauges like RSI suggest sustained upward movement. Resistance near $0.30- $0.31 remains a key challenge to overcome for a decisive move towards higher levels. Support bands at $0.22-$0.24 provide crucial safety net, and if Dogecoin breaches this level, a breakout can occur. 15% weekly gains and a strong momentum in the market suggest that a sustained break above $0.36-$0.40 could validate the bullish outlook and potentially reach new highs. Volume plays an important role in validating any breakout. If trading volume increases along with price action, it suggests greater participation and strengthens the bull case. However, if price shows signs of weakness or stalls without significant support, a pullback towards lower levels may occur. The road ahead for Dogecoin will depend on whether this recent momentum can be sustained and whether the bullish signal turns into a decisive breakout. Will $1 become inevitable?