The cryptocurrency market has recently attracted attention again, with DOGE performing particularly well. The latest data shows that the price of DOGE has risen to $0.2380, with a 24-hour increase of 10.09%. Behind this strong upward momentum, multiple technical indicators and market data provide support.

The Relative Strength Index (RSI) is forming a bullish rounded bottom pattern and gradually climbing upward. Historical data shows that when the RSI enters the 80-90 range, DOGE often experiences significant upward movement. Currently, the RSI is approaching this key area, which may indicate that the next round of price expansion is imminent. Analysts predict that if a successful breakout occurs, the price of DOGE could reach the range of $0.75-$1.00.

The futures market data also conveys positive signals. In the most recent trading day, DOGE futures trading volume surged by 67.45%, reaching $8.82 billion, and open interest also rose by 10.10% to $3.55 billion. This indicates that new capital is flowing into the market, and investor interest in DOGE is on the rise.

In contrast, activity in the options market has weakened, with trading volume down 72.80% to $230.03 million, and open interest has also significantly decreased. This contrast between the futures and options markets may suggest that investors are more inclined to take clear directional trades rather than engage in high-risk speculative operations.

From on-chain data, the health of the DOGE network remains stable. The hash rate continues to grow steadily, indicating that miners' confidence in the network remains strong, even during price fluctuations. The cumulative value destruction days (CVDD) model also shows that the current price is within a reasonable range.

Overall, technical indicators, market data, and on-chain activity all support the potential breakout of DOGE. However, investors should remain cautious, closely monitor market trends, and manage risks appropriately. The cryptocurrency market is highly volatile, and any investment decision should be based on thorough research and individual risk tolerance.