Dogecoin Prepares for $0.30 Target as Analysts Predict Breakout
Dogecoin (DOGE), the popular dog-themed cryptocurrency, might be nearing a major price move, according to technical analysts. Crypto analyst Ali shared on X (formerly Twitter) that Dogecoin is consolidating within a triangle formation on the 12-hour chart, a classic pattern that often precedes a significant breakout.
Ali estimates that a successful breakout could push DOGE up by 40%, targeting the $0.30 level from its current range around $0.213. The triangle is tightening, showing a battle between bulls and bears, and analysts suggest a move may occur within days or weeks.
Key Support Levels and Price Outlook
Dogecoin recently reversed a three-day rally, dipping to an intraday low of $0.214. It is currently testing the 50-day moving average at $0.2139, a level that has acted as a solid support since early August. If DOGE holds above this level, the bullish momentum may continue. However, a breakdown could lead to a retest of the 200-day moving average near $0.20.
Qubic Threat and Project Sakura Response
Beyond the charts, Dogecoin is also making headlines for security-related reasons. Following a controversial 51% attack on Monero, the Qubic network community has voted to make Dogecoin its next target.
In response, Timothy Stebbing, director at the Dogecoin Foundation, revealed ongoing development of Project Sakura — a new staking-based validation mechanism designed to resist such attacks. The mechanism would allow for community-driven on-chain staking pools and automatically neutralize reward-based exploit strategies like those used by Qubic.
With technical setups hinting at a breakout and security upgrades underway, Dogecoin holders are watching closely for what could be a pivotal moment for the meme coin giant.
