Dogecoin (DOGE) Soars Nearly 25% in the Past 24 Hours, Reaching an Intraday High of $0.48

Crypto analyst Ali Martinez predicts a bullish breakout to $0.82, suggesting DOGE could surpass its previous all-time high.

Dogecoin (CRYPTO: DOGE) surged nearly 25% in the past 24 hours to reach an intraday high of $0.48 on Saturday.

What Happened: The surge comes as altcoins gain momentum and Bitcoin approaches the $100,000 milestone.

Crypto analyst Ali Martinez predicts a bullish breakout to $0.82, suggesting DOGE could surpass its previous all-time high.

"Dogecoin DOGE is in the middle of a bullish breakout to $0.82," wrote Martinez in a recent tweet.

The crypto expert posted a Dogecoin chart that showed a triangular pattern with $0.82 as a possible breakout point.

The possibility for DOGE to achieve new all-time highs is boosted further by this prediction.

For Dogecoin to reach its $0.82 target at its current price, its value would need to increase by around 42%.

Path To Surpassing All-Time Highs: If Dogecoin were to indeed surge to $0.82, it would mean it has surpassed its previous all-time high of $0.7376, which was recorded on May 8, 2021.

Dogecoin is currently trading down 36.11% from its all-time high of $0.737, although it has surged 23% in the past 24 hours to reach $0.475, at the time of writing.

Despite this, Dogecoin has seen substantial gains over the past week and month, with data from CoinGecko showing gains of 27% and 245%, respectively.

Steady Climb Over Past Three Days: The price of Dogecoin has been climbing steadily over the past three days, reaching a peak on today.

Today's Dogecoin trading session saw a massive green candle as the price surged from $0.4 to reach $0.48, a level not seen since May 2021.

The dog coin's price action began to resume on Nov. 21, when it started to rise from a low of $0.369, following a brief lull after hitting $0.439.

Relative strength index (RSI) is in the overbought zone and moving averages are sloping up, indicating strength in buying.

If bulls are able to push the price past $0.48, we could see Dogecoin reach $0.50 and then $0.59. With further ascent, the present all-time highs of $0.73 and $0.82 could be in sight.

On the downside, support can be expected around the price levels of $0.33, followed by $0.29 and $0.25, if prices were to decline.