Dogecoin has finally managed to break through the $0.48 resistance, peaking at $0.484 before a slight pullback. This development has sparked optimism among traders, as the meme coin had been struggling with this level for weeks.
Data from Santiment suggests mini breakouts among meme coins like Dogecoin, indicating rising interest. There's a potential for extended gains, targeting the $0.50 mark, which could trigger further rallies if surpassed.
Santiment points out the role of "whales" in influencing these price movements. Their activity in meme coins may continue until retail investors join in, although past trends warn of corrections when social media buzz peaks.
Currently, Dogecoin is consolidating around $0.46, unable to push past $0.50. However, overall market conditions are bullish and could support a potential breakthrough if sustained. Traders are advised to seek confirmation of a breakout before expecting significant price movements.
