Dogecoin (Doge) is once again catching traders’ attention after a steady price rise this week. The meme coin has climbed around 6%, but the real story is what’s happening behind the chart. Crypto analyst Ali Martinez highlights a key resistance level that is being tested again and again.
So, is DOGE finally ready to break out?
Dogecoin (DOGE) Gets a Major Regulatory Boost
Dogecoin’s recent price rise comes after a major regulatory update. The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission have now classified Dogecoin as a digital commodity under a new crypto framework.
This clearly separates DOGE from digital collectibles and other token types. It is now placed in the same category as Bitcoin and Ethereum, which brings long-awaited clarity to the market.
This clarity has been missing for years, and now that it’s here, it gives DOGE a stronger foundation.
Dogecoin On-Chain Activity Picks Up
Dogecoin has started gaining momentum again as the overall crypto market santiment improves. Recently, the price moved close to $0.10, which pushed trading activity higher.
Data from Coinglass shows that open interest jumped near $1.4 billion, reaching its highest level in over two months.
At the same time, large investors are stepping in. Data shows that whales have bought over $330 million worth of Dogecoin in the past week.
Thus, crypto analyst Ali Martinez noted a potential breakout movement for Dogecoin.
Tight Range Signals a Bigger Move
Ali Martinez highlighted a key pattern on the 4-hour chart. According to him, Dogecoin is trading inside a parallel channel, where the price is getting squeezed into a narrow range.
This type of setup often points to a big move ahead. As the price continues to tighten, pressure builds, and sooner or later, a breakout usually follows.
Right now, the most important level to watch is $0.1018. This level has acted as strong resistance, stopping the price from moving higher multiple times. In fact, DOGE has already been rejected here five times.
This shows that sellers are still active. However, repeated attempts to break the same level can weaken resistance over time.
Breakout Could Trigger Rally
There are early signs that buyers are gaining strength. If Dogecoin manages to close above $0.1018 on the 4-hour chart, supported by strong volume, it could confirm a breakout.
If that happens, the next target could be around $0.1172, which is near the top of the channel. A move to this level would signal a strong short-term rally for DOGE.
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