Dogecoin’s breakout sparks altseason frenzy - Should traders buy in?

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Dogecoins breakout sparks altseason frenzy – Should traders buy in？

Historically, Dogecoin has been a reliable early indicator of altseason – and the latest breakout from its multi-month downtrend has revived that narrative.

Source: X

As shown in Ash Crypto‘s chart, DOGE’s price is mimicking its 2024 surge, breaking resistance within a rising wedge while the TOTAL2 index shows a similar setup.

Both charts now flash bullish reversals. If DOGEs rally sustains, it could ignite broader altcoin momentum, as risk appetite spills into mid- and low-cap assets.

DOGE price outlook

DOGE was trading at $0.2482 after a 7% daily gain at press time, maintaining strong bullish momentum. The RSI sat at 73.5, indicating overbought conditions that could trigger short-term profit-taking.

Source: TradingView

However, the OBV remained elevated at 47.94B, showing sustained buying interest. Price action suggests a possible push toward $0.30 if momentum persists.

Yet, with the RSI overheated, there could be potential consolidation or minor pullbacks. As long as DOGE holds above $0.23, the bullish structure remains intact, with social buzz and volume likely to dictate the next major move.