Dogecoin Price Eyes Major Breakout, Is A Rally To $0.7 All-Time Highs Possible?

The Dogecoin price is showing new strength after a recent shakeout in the market. According to crypto analyst Baarut, the popular meme coin could be preparing for a significant breakout move after recovering from its latest drop, forming a solid market structure. Baarut believes that with patience and proper planning, traders may soon see the next big push that could bring Dogecoin closer to its past highs. Analyst Baarut Identifies Key Setup For Dogecoin Price Next Move In his post on X, analyst Baarut provided a detailed analysis of how Dogecoin is behaving following the recent significant liquidation event. Despite the heavy sell-offs, the analyst says the Dogecoin price recovered strongly and showed real resilience in the market. After this recovery, the price expanded upward before moving into a phase of consolidation. Related Reading: Why This Resistance Could Trigger Another XRP Price Crash Soon This period, according to Baarut, is not random. It is where the market is gathering strength, forming structure, and creating what he calls a “liquidity zone” around $0.19319. The liquidity zone, he explained, is crucial because it shows where weak traders have exited the market and where smart traders might be setting up for the next big move. Baarut said he plans to enter his trade around the four-hour order block at $0.19065, setting a stop loss at $0.18606 and a take profit target at $0.21823. He believes this Dogecoin price structure gives him a clear entry area and helps control risk. The analyst added that the zone around $0.19319 could act as a magnet for price movements, meaning that the market might sweep this area before reacting upward. Market Structure And Risk Plan Point To Potential Upside For Dogecoin Price Baarut also emphasized that understanding structure, liquidity, and risk is key to trading Dogecoin right now. He explained that his setup has a high reward-to-risk ratio, meaning the potential profit is strong compared to the limited downside. Instead of rushing into trades, Baarut said he is observing the chart and waiting for price confirmation. In his view, the current crypto market is not ideal for long-term holding, so it makes more sense to focus on short-to-medium term moves with clear setups. Related Reading: Analyst Sends Message To XRP Investors: If You Don’t Do This, You’ll Get Wrecked By keeping a tight stop loss and waiting for the market to show its direction, Baarut aims to trade safely while still taking advantage of possible gains. If the trade works out as he expects, Dogecoin’s price could move toward $0.21823, which might then open the door for a larger rally toward its $0.7 all-time high. Baarut’s Dogecoin price analysis reflects growing optimism among analysts who see the meme token building the base for a potential breakout. His emphasis on patience and having a clear structure shows how strategic planning could make the next Dogecoin price move one to watch closely. Featured image created with Dall.E, chart from Tradingview.com