Dogecoin (DOGE) is poised for a potential breakout as speculation around a SpaceX IPO intensifies. Currently trading near $0.0905, DOGE remains in a descending triangle pattern, with traders closely monitoring for a breakout that could push the price past the $0.10 mark. The cryptocurrency has been under pressure alongside Bitcoin, which has seen consecutive weekly losses.
The anticipation of a SpaceX IPO has revived interest in DOGE, a cryptocurrency often influenced by Elon Musk-related news. Chart analysts suggest a 29% price move could occur once a breakout is confirmed, though the direction remains uncertain. On-chain data shows rising network activity, with daily active addresses nearing 53,000, indicating potential accumulation.
For DOGE to gain upward momentum, it must break above the $0.10 resistance level. Conversely, if support around $0.089 to $0.091 fails and Bitcoin weakens, DOGE could test lower levels near $0.085. The market awaits a decisive move, with SpaceX IPO speculation adding to the intrigue.
