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Dogecoin (DOGE) is currently gaining momentum, with technical indicators pointing to a potential 45% bullish breakout. The Relative Strength Index (RSI), which measures market momentum, has broken its descending trendline on the daily chart, signaling increasing buying pressure. This RSI breakout is often seen as a precursor to upward price movement, raising optimism among traders.
At the time of writing, DOGE is trading at $0.1093, having surged 4.20% from its intra-day low of $0.1042. However, for Dogecoin to fully capitalize on this momentum, it must break past the $0.11 resistance level. This level has acted as a significant barrier in recent trading sessions, and analysts view it as a crucial point. If DOGE surpasses this resistance, it could trigger the anticipated 45% rally.
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Additionally, whale accumulation has added to the bullish outlook, with large holders buying more DOGE, further reinforcing the possibility of a breakout. Traders and analysts are closely watching this key price level, as a successful push beyond $0.11 could see Dogecoin move significantly higher in the near term.
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