Dogecoin Jumps 40%, Eyes $0.60 Amid Breakout Surge

- Dogecoin price surges nearly 40%, outperforming broader crypto market. - Technical breakouts and on-chain data suggest further upside potential. Dogecoin (DOGE) jumped nearly 40% in the past week, making it a standout performer in the cryptocurrency market. On September 13, 2025, Cointelegraph reported that strong trading volumes and bullish technical developments fueled the rally. The memecoin recently broke out of a multimonth symmetrical triangle pattern, which often signals continued bullish price movement. During the breakout, trading volumes tripled, highlighting strong investor interest and upward momentum. Based on the triangle's height, analysts forecast a potential price target of around $0.60, which represents a possible 95% upside from current levels. In addition, on-chain metrics support the optimistic outlook. Dogecoin’s MVRV Z-Score, now at 1.35, suggests the asset is still fairly valued. Historically, this reading has preceded major price surges, such as the 230% rally in November 2024, and the metric indicates more room for price growth before the market becomes overbought. Despite these bullish signals, however, analysts caution that momentum depends on maintaining key support levels. DOGE bulls must defend the 50-week exponential moving average (EMA), currently providing support near $0.227. If the price drops below this threshold, it could trigger further declines and potentially retest the 200-week EMA at approximately $0.215. According to CoinMarketCap on September 13, Dogecoin (DOGE) was trading at $0.286 as of 18:08 UTC, while its 24-hour trading volume increased by 5.75%.