Following the general market rebound, major digital assets such as Dogecoin have seen significant growth, generating sturdy investor sentiment and prompting several bullish price predictions from enlightened cryptocurrency experts on DOGE’s near-term potential.

Dogecoin price surge to $0.3 and above is coming

Dogecoin’s renewed bull run may not end any time soon, according to Dogegod, a market expert and trader predicted that the dog-themed meme coin may be preparing for a significant breakout that could trigger a long-term price rally towards the $0.3 level.

The expert’s bullish projection suggests Dogecoin could experience massive gains to key price levels based on a long consolidation phase, reflecting market resilience the same corner for years.

According to Dogegod, Dogecoin has been consolidating for several years, holding the support level at $0.011. In the event that the cryptocurrency exits the stabilization phase, a market expert believes that this move could trigger a price raise up to $0.30 level or even higher.

Dogedog’s predictions are part of a broader bullish move towards the flagship meme coin, likely driven by an raise in adoption and growing support within the DOGE community.

Another market expert, Master Kenobi, also delved into Dogecoin’s current price movement, underlining that the token started a bull market compared to the trends of previous cycles, which preceded significant increases.

Master Kenobi noted that in the previous cycle DOSE started the bull market with 4 consecutive green weeks after 2 weeks of red weeks. Meanwhile, in the ongoing cycle, the digital asset has reproduced a pattern, as indicated by the green line in its graph.

Kenobi stated that the previous bull run began about 175 days after Bitcoin halving event in 2020, while the current bull market seems to have started 20 days earlier. So, given that the last Halving event occurred exactly 175 days ago, Kenobi argues that the likelihood of additional red in the coming weeks decreases if the first 4 weeks were phony.

DOGE’s chain business is experiencing significant growth

It is worth noting that these positive forecasts for DOGE are due to the raise in on-chain activity on the network. Over the past few days, the number of busy Dogecoin addresses has reached a fresh high. Reports Cryptography expert Ali Martinez revealed that the number of busy DOGE addresses recently increased to around 133,880, which is the highest level in the last 8 months.

This significant raise signals a renewed wave of interest and activity for a meme coin. This also reflects the increasing number of online transactions and the greater participation of both retail and institutional investors.

Featured image from Unsplash, chart from Tradingview.com