Dogecoin (DOGE) Record-Breaking Monthly Close ?

$Doge November candle closed above the all-time monthly highest close. This is a HUGE candle that moved from a low of $0.142 to a high of $0.480

Dogecoin (DOGE) price soared 240% in November, notching its highest monthly close ever and breaking out of a key resistance level that could see it outperform Ethereum (ETH) in the coming months.

The November monthly candle for the DOGE/ETH pair chart closed above the all-time monthly highest close. This is a massive candle that moved from a low of $0.142 to a high of $0.480, marking a +237% increase within a month. The bull rally has just lit its first candle.

What happened to Dogecoin price in November?

After breaking out of a bullish pennant on the daily chart, Dogecoin price began surging through the month of November. The meme coin started the month trading at $0.142, reaching lows of $0.134 on November 11. From there, DOGE price began rallying, reaching highs of $0.48 on November 28. This signaled the start of a powerful breakout.

Dogecoin price began the year 2023 trading at $0.08. Since then, DOGE has surged over 400%, reaching a high of $0.48 and lows of $0.39. At the time of writing, Dogecoin price trades at $0.44.

Dogecoin price now targets double digits, as recent price action suggests that a journey to $1.30 and beyond is highly likely. Supporters of the meme coin are now targeting prices of $13, which would be a staggering 2,400% increase from current levels.

As DOGE continues rallying, making new all-time highs, traders and investors will be watching the next steps closely. With ETF speculations adding another layer to DOGE’s bullish narrative, it will be interesting to see how much institutional money piles into the meme coin.