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<\/p>\n
DOGE\u2019s price has been consolidating within a narrow trading range, around $0.20. This is a crucial psychological level that the asset surpassed two weeks ago. The last time DOGE was priced above this level was in November 2021.<\/p>\n
In terms of metrics, DOGE is throwing mixed numbers. The price on the monthly scale is up 20%, but market capitalization is down to $29 billion as 24-hour trading volumes across exchanges are also in the red, falling to 9% at $2.2 billion.<\/p>\n
Despite the consolidation, analysts believe DOGE\u2019s next bull run will start sooner rather than later.<\/p>\n
Renowned crypto trader Rekt Capital suggests the primary memecoin is going through a retesting phase at the $0.20 level on the monthly timeframe.<\/p>\n
The analyst pointed out a downside wick displayed on the monthly chart, which means a retest of a bull flag pattern on the weekly timeframe.<\/p>\n
Previously, the analyst had warned about volatility around the $0.20 mark. A successful break above such a crucial level would mean further upside potential, more specifically upwards of $0.30. Other market observers like Mikybull Crypto share equally bullish views.<\/p>\n
\n$DOGE<\/p>\n
The real bull run is about to start🔥 pic.twitter.com\/uPa17Dt4Un<\/p>\n
\u2014 Mikybull 🐂Crypto (@MikybullCrypto) April 7, 2024<\/p>\n<\/blockquote>\n
Rekt Capital is not the only analyst forecasting bullish action for the DOGE. As the father of all memecoins consolidates, traders are predicting prices of over $1, as the coin mirrors previous cycles.<\/p>\n
As CryptoPotato reported, some analysts believe that DOGE could be on the verge of a new rally towards new peaks, targeting prices above $2, $9, and even $40.<\/p>\n
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