Analyst Viaquant believes that Dogecoin (DOGE) has formed a 'perfect market structure' and is poised to enter a parabolic phase.
Viaquant notes that DOGE has retested the old resistance level of $0.18, which is likely to become a support level.
A level of massive support is being built between $0.138 and $0.15, and a break above $0.20 could lead to a push to the Fibonacci level at $0.23.
Crypto analyst Master Kenobi believes that DOGE is strategically positioned, citing potential impacts from Elon Musk's D.O.G.E proposal and integration of DOGE payments into the X platform.