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The post Dogecoin (DOGE) Price Poised for Bullish Breakout as Memecoin Mania Hits New Peaks appeared first on Coinpedia Fintech News
The notable emergence of meme coin mania in several chains—led by Tron (TRX), BSC, and Toncoin (TON) networks—is a staunch reminder that Dogecoin (DOGE) ‘s bullish breakout is on the horizon. As the top meme coin project, backed by a strong online community of more than 7.4 million holders and secured through the legendary Proof-of-Work (PoW) consensus method, it is safe to assume a fresh bull run will eventually happen in the near term.
The large-cap meme coin, with a fully diluted valuation of about $14.3 billion and a daily average traded volume of around $525 million, has gained around 2.3 percent in the past 24 hours to trade about $0.098, as Bitcoin price rebounded above $55k on Monday.
However, today’s rebound is a drop in the desert as the meme lord has dropped over 55 percent in the past five months, amid low demand for crypto assets.
Short-term Bullish Sentiment for Dogecoin
Imagine if, after all this craziness, #Dogecoin is the one to break out and kick off the next leg up… 
Watch out for this falling wedge on the $DOGE daily chart — a sustained close above $0.10 could spark a bullish run to $0.15! pic.twitter.com/oGIeR3yHtF
From a technical standpoint, Dogecoin’s price has been forming a macro falling wedge in the past five months, which is most likely to result in a major bullish uproar in the coming months. Moreover, the meme lord has formed a fractal pattern similar to the previous macro bullish parabolic breakout.
According to popular crypto analyst Ali Martinez, the $DOGE price will immediately rally towards $0.15 if it consistently closes above 10 cents in the near term.
Fundamental Aspects
Dogecoin network has one of the strongest online communities led by tech billionaire Elon Musk. The PoW-secured altcoin, with a total hash rate of about 1.17 PH/s, recently reached a major milestone of over 348 million transaction counts.
The Dogecoin community is eagerly awaiting the final integration of the Dogecoin and X platform after the launch of X payments. Musk has already reiterated several times that Doge will remain the favored crypto project.
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