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Analyst Says Dogecoin Price Action Similar to XRP, Sets $1.15 Target

Author: Content Editor
Market analysts are optimistic about Dogecoin's future, comparing its price movement to that of XRP. Despite a small decline in December, Dogecoin has held above $0.40 and is expected to have another significant rally, potentially reaching $1.15. Analysts point to similarities between Dogecoin's trajectory and XRP's behavior, indicating a possible continuation of the upward momentum. The $0.48 and $0.55 levels are seen as important resistance areas, with a longer-term target of $0.66. A separate analysis identified a daily ascending triangle structure for Dogecoin, suggesting growing buyer interest near support levels. While there has been a recent breakdown below $0.43, the bullish narrative is supported by the relative strength index (RSI) on the 4-hour chart, with potential for a rally exceeding 200% and a price target above $1.15. The immediate support level for DOGE is $0.40, with resistance at $0.55 and a longer-term target of $0.66.

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