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- 💙 Gate Square #Gate Blue Challenge# 💙
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4. Submissions must be original and comply with community guidelines. Plagiarism or re - 🎉 The #CandyDrop Futures Challenge# is live — join now to share a 6 BTC prize pool!
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Post original content on Gate Square related to WXTM or its
Dogecoin Flashes Major Breakout as $0.70 Becomes New Target
Amid the unstable market condition, the world’s largest memecoin by market capitalization, Dogecoin (DOGE), has continued to flag bullish signals. Although it has shown mixed price signals in the past days, DOGE might be on the verge of a potential breakout according to a recent prediction from crypto analyst Ali Martinez.
While the asset has remained mostly in the green zone over the past week, showing a massive weekly surge of over 12%, the analysts have predicted DOGE heading toward achieving an explosive breakout to a level not seen in 2025.
Why is $0.36 so important for DOGE?
On-chain data from Glassnode shared by the analyst shows DOGE’s UTXO realized price distribution chart, which highlights $0.36 as a very crucial level for DOGE.
According to the chart, about 3.48% of DOGE circulating supply, which stands at more than 5.23 billion DOGE, was acquired for around $0.36.
While DOGE has long traded below that level, there are expectations that some of the holders of those tokens might want to sell at that level to avoid losses. Hence, this might cause a barrier for DOGE breaking out beyond that level.
As such, the analysts have urged investors to watch out for DOGE’s breakout above the $0.36 mark, as the possibility of the token pushing past that level and maintaining resistance above it could clear the way for a more explosive upsurge.
More specifically, the historical activity behind DOGE’s price at $0.36 makes that level a critical point of contention among bull and bear traders. Thus, a major breakout above $0.362 could see DOGE printing a new price target at $0.70, as there seems to be no major realized price distribution until the $0.70 level.
According to the analyst, DOGE’s uncertainty of forming resistance above $0.36 is the only barrier stopping its chances of hitting $0.70. Once the key resistance level is cleared, the leading meme token will only be a step away from crossing its all-time high of $0.7376 achieved on May 8, 2021.
While the crypto market is showing mixed price actions since the last day, commentators have raised concerns as to whether DOGE’s current momentum could afford the buying pressure needed to sustain a push toward $0.70.