Will Dogecoin propel to $0.5? Key levels indicate…

• Dogecoin tops the memecoin space in terms of popularity.
• DOGE’s price could thus surge to $0.5 price level sometime soon.

With slightly more than 7 million holders, Dogecoin [DOGE] remained the most popular memecoin in the cryptocurrency world. It has maintained its popularity since its launch, offering early investors significant returns. 

While other memecoins like Floki Inu [FLOKI] and Pepe [PEPE] have emerged, they haven’t gained as much traction as Dogecoin. 

Unlike many volatile memecoins, Dogecoin has shown more stability. As it continues to lead the memecoin market, Dogecoin is expected to maintain its top position and may even exceed the $0.50 mark soon.

Source: Coincarp

Alongside this, Dogecoin’s price action was nearing a breakout from the descending triangle pattern at press time, something which typically signals a potential rally. 

As it moves past this consolidation, investors are buying in, anticipating a rise to $0.50. If Dogecoin maintains its leading position among memecoins, it could see further growth.

Source: TradingView

DOGE breaks out of cup & handle pattern

Dogecoin’s dominance was likely to continue as it recently broke out of a key pattern, signaling a potential surge to $0.50. 

Investors and traders were still buying in while the price was around $0.10, anticipating significant gains. 

With Dogecoin’s strong position in the market, its status as a leading memecoin appeared secure, making it an attractive investment option.

Source:  TradingView

Dogecoin’s RSI was following the same pattern as its price chart, showing a promising correlation. Both were moving similarly at press time. 

The RSI was in the oversold zone and forming a double bottom, suggesting that DOGE’s prices could rise.

Source: TradingView

Read Dogecoin’s [DOGE] Price Prediction 2024-2025

Crypto markets broaden the descending wedge pattern

The total crypto market cap was following a descending broadening wedge pattern at press time, suggesting that if altcoins break above the upper trendline, significant gains could follow. 

Such patterns often reveal potential opportunities before major price movements occur.

Source: TradingView