Dogecoin Explosion: Will the Price Hit $0.82, Surging 90% in the Blink of an Eye?

Dogecoin[DOGE]has created a wave in the cryptocurrency market as its price has recently surged 25% and reached a new high in 2024. After a brief consolidation period, the memecoin seems to be preparing for the next big move, as analysts predict the coin has the potential to rise to $0.82 - a 90% increase from the current value. This powerful breakthrough has sparked new interest in the investment and trading community, raising questions about the sustainability of the price increase and whether Dogecoin can maintain its momentum. Dogecoin: Price about to increase? At the end of the week, Dogecoin surged 25%, reaching a daily high of $0.4759 on November 23rd. The event marked a significant turning point for the memecoin, which has been stable at nearly $0.43 since Nov. 14. Cryptocurrency analyst Ali Martinez emphasizes the importance of this breakthrough, seeing the decision to surpass the flag pattern as the main catalyst. Martinez predicts that this technical breakthrough could push the price of Dogecoin up to $0.82 - an increase of nearly 90% compared to the current level. If this prediction is correct, the price increase of Dogecoin could reshape market psychology and strengthen price prospects. 0.82 dollars: How feasible is it? Price movements in November reflect a strong upward trend, with Dogecoin steadily rising from $0.35 to a recent high of $0.4759. The relative strength index (RSI) indicates that the asset is approaching overbought levels, suggesting potential for further price increases, although caution is still needed. Meanwhile, Balanced Volume (OBV) showed significant gains, confirming continued buying pressure and investor confidence. The main resistance levels at $0.50 and $0.74 (all-time high) are still barriers where profit-taking can slow down the uptrend. The broader market conditions will also play a crucial role in determining whether Dogecoin can maintain its upward trajectory towards the $0.82 target. The factors driving the prospects of DOGE The interesting thing is that the activities of whales and market psychology seem to have boosted the chances of maintaining Dogecoin's upward trajectory. Data on the chain shows that large holders, or "whales", have been actively accumulating, with over 550 million DOGE - worth about $214.5 million - bought in the past week. In addition, Dogecoin's breakthrough has rekindled optimism, with increased trading volume and positive sentiment further supporting its price surge. If this upward trend continues, along with the constant activity of the whales, Dogecoin may surpass important psychological thresholds and move towards Martinez's target of $0.82. However, profit-taking activities and external market fluctuations remain the main risks to watch out for in the coming weeks.