Dogecoin's price is speculated to undergo a significant rally after breaking above a crucial 50-day trendline, indicating a potential shift in market momentum.
Technical analyst Trader Tardigrade noted the breakout and suggested the beginning of a bullish reversal pattern as Dogecoin forms higher highs and lows.
Market analyst Kaleo highlighted Dogecoin's current undervaluation below $0.20, projecting a potential breakout with upside targets at $1.5 and possibly exceeding $3.50.
The similarities between Dogecoin's current market structure and the 2020 breakout that led to a historic bull run suggest the possibility of another significant rally for the meme coin.