Dogecoin RSI Breakout Shows Main Target, Why $1 Is Still Possible

Dogecoin is getting attention again after crypto analyst Shan Specter shared a new chart on X. In the post, Specter said Dogecoin is showing a green bullish dot on the daily chart, along with an RSI breakout. He described the move as “incredible” and said the coin looks ready to rise again. His chart shows that Dogecoin is now breaking past a level that had been holding it down for a while. 

Specter suggests that the primary focus is now on how the RSI has broken upward. The analyst pointed out this change as a bullish indicator that Dogecoin could move higher in the short term. The daily candlestick chart shows a clean upward push from the lower support area, hinting that momentum is returning to the coin.

Shan Specter Identifies Dogecoin RSI Breakout

In his X post, Shan Specter wrote, “Incredible! Dogecoin is showing a green bullish dot on the daily chart with an RSI breakout. The main target is $0.40. Dogecoin is poised to go higher. Hang in there, everyone.”

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The green bullish dot and RSI breakout together suggest the first strong signal of a possible new upward trend. On the chart, the RSI line has broken through a key level, which usually happens before a price increase. Specter’s chart also highlights how Dogecoin’s price is forming a triangle shape, with the breakout arrow pointing upward toward the next price zone.

By sharing this analysis, Specter highlighted that the coin’s setup is improving and that it could soon test higher areas if the pattern continues. The tone of his post was positive and encouraging, indicating that he believes the chart signals more room for growth.

Price Targets Set At $0.40 And $1.00

In the same post, Specter listed two targets for the Dogecoin price. The first target is $0.40, which he marked as the primary goal for this current RSI breakout. His chart includes an arrow pointing toward that level, suggesting it is the next key point if the upward move continues. The price area around $0.40 is shown in red on his chart, marking it as a critical resistance zone.

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The second target is $1.00, which Specter suggests is still possible if the breakout gains more strength. His chart shows a clear upward path that stretches beyond the first target toward the $1 mark. He didn’t give a time frame for this move, but the setup remains intense and worth watching.

Specter’s post draws attention because it gives a direct view of Dogecoin’s current daily price action. With the RSI now breaking higher and both targets marked, the update suggests Dogecoin may be entering a more active phase again.

Featured image created with Dall.E, chart from Tradingview.com