The post Could Dogecoin Price Exceed Past Cycles in the Next Rally and Reach $6.50? appeared first on Coinpedia Fintech News
Dogecoin price today is showing some resilience, backed by fresh on-chain signals and heightened community involvement fueled by the jump in hashrate.
Analysts highlight a critical $0.25 resistance on the DOGE price chart while on-chain data reveals record-breaking network security.
Meanwhile, traders remain divided on short- and long-term DOGE price prediction scenarios, which are fueling broader market discussions. Despite all, one thing is common, and that is the DOGE market is aligning for a bullish rally on the horizon across all major time frames.
Weekly Chart Resistance Around $0.25 Is Key For DOGE’s Near-Term Targets
According to the most recent weekly DOGE price chart observations, an expert suggests that for the DOGE price to rise in the upcoming sessions, a decisive break above $0.25 could trigger further upward momentum.
As such, a breakout would potentially drive the DOGE price USD closer to the $0.34 mark in the short term. This will present opportunities for short-term traders too.
However, not all analysts see the current momentum as sufficient. Some traders strongly believe that Dogecoin’s long-term bullish trend has not yet begun.
One analyst revealed that the historical DOGE price forecast models suggest that once momentum builds, the DOGE crypto could surpass earlier cycle highs, and the current market is still in a pre-rally stage.
Should history repeat itself, Dogecoin price could eventually climb well beyond current levels, with some forecasts pointing to major upside towards $6.50 or higher once full bullish momentum begins.
Dogecoin Hashrate Hits All-Time High
Beyond the DOGE price chart, the on-chain fundamentals add another layer to the analysis. Recently, Dogecoin’s hashrate has been the most talked-about topic in the community today. As it reached an all-time high, it indicated that more miners are securing the network than ever before. This metric reflects both rising adoption and strengthening network security.
Adding to this, Dogecoin’s official account suggested that parts of the community mobilized to secure the network against potential threats. The move shows that the DOGE crypto’s resilience and proactive stance in maintaining security.