Dogecoin is on the verge of breaking out of a major resistance level on the weekly chart that is historically significant. The cryptocurrency has repeatedly encountered resistance at this Fibonacci retracement level since November 2024. In May 2021, Dogecoin briefly surpassed the resistance level but failed to sustain it as support, resulting in a breach below it. However, analysts believe that a successful breakout is imminent based on historical patterns. Dogecoin has previously found support at the lower Fibonacci level before embarking on a bull push, reaching an all-time high in May 2021. If history repeats, a second bull push could lead to a breakout and potentially significant price increase.



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