Dogecoin Price Could Surge to $0.15 as Support Holds

The Dogecoin price appears poised for a rally to $0.15 as it maintains support above the crucial $0.105 level. Crypto analyst Kevin Capital recently suggested DOGE could see further upside if it continues holding this key support. However, the meme coin may face some resistance between $0.13-$0.14 on its path higher.

DOGE Targets $0.15 After Bouncing Off Support

After successfully retesting the $0.105 support level, DOGE looks ready to push toward $0.15. Kevin emphasized this price point as the current “line in the sand” that Dogecoin must hold above to maintain its uptrend.

The analyst also highlighted $60,000 as a key level for Bitcoin that could impact DOGE’s trajectory, given the strong price correlation between the two cryptocurrencies. A drop below $60k for BTC could put Dogecoin at risk of a significant decline.

Meanwhile, crypto analyst Crypto Yapper noted DOGE faces major resistance in the $0.13-$0.14 range, an area where it has previously been rejected. Breaking through this zone will be crucial for reaching the $0.15 target.

Network Growth Supports Bullish Outlook

On-chain data shows the Dogecoin network has seen substantial growth recently, supporting a bullish price outlook. Analyst Ali Martinez shared that new DOGE addresses increased 72% over the past week, with nearly 20,000 new addresses created on September 30 alone.

This surge in network activity may be linked to plans for enabling smart contracts on Dogecoin. The QED protocol recently announced a partnership to launch a zero-knowledge virtual machine on the network, which could boost DeFi activity.

Additionally, large DOGE transactions have spiked, indicating accumulation by whales. Over 7.8 billion DOGE changed hands in the last 24 hours, suggesting major players may be positioning for further upside.

With strong network fundamentals and key support levels holding, Dogecoin appears well-positioned to target the $0.15 level in the near-term. However, traders should watch for potential resistance around $0.13-$0.14 that could temporarily slow the ascent.