TL;DR

The king of memes (as it was called by a popular analyst) has gone on another tear, skyrocketing to a new multi-month peak at $0.30. Multiple analysts weighed in on the rally, indicating that its just getting started. One of them even projected that its yet to melt faces. Dogecoin $DOGE still in the BUY zone. This bullish breakout will melt faces! pic.twitter.com/JNgCmRJfY0

Perhaps driven by corporate purchases or ETF hype, DOGEs price has flown out of the gates in the past several days. Recall that the asset was stuck in a consolidation mode around $0.22 for a few weeks, until September 7.

Thats when the breakout began, and its first stop was at $0.24. That resistance didnt last long, as the largest meme coin broke it earlier this week. The rally drove it to its highest price point since early February at $0.30.

Milkybull Crypto weighed in on the matter, saying that Dogecoins rally has just begun. Although the analyst didnt set a particular target, a previous report noted that DOGE could be on the verge of a triple-digit surge due to the tightening Bollinger Bands.

Satoshi Flipper posted a DOGE/USDT 8-hour chart, which shows the clear breakout, and concluded that this is how Dogecoin is reminding everyone why its the king of memes.

#DOGECOIN/usdt 8 hour$DOGE reminding everybody why its the KING OF MEMES https://t.co/sy6ARIxZXY pic.twitter.com/3B9RVaqOln

Despite the hype around the token and its upcoming ETF, its worth noting that the SEC delayed the launch of the much-anticipated Rex-Osprey DOGE ETF (DOJE). Its initial launch date was September 12, but it has been postponed to September 18 as of now.