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Dogecoin (DOGE), the meme-inspired cryptocurrency, is poised for a major breakout, according to a well-known expert. The expert, known for insights shared on the Crypto Capital Venture YouTube channel, has highlighted several compelling metrics that suggest Dogecoin is on the verge of a significant rally.Currently trading at $0.1027, Dogecoin has cleared one zero as its price soared by 12.94% in the past 24 hours. With a market cap exceeding $14.5 billion and a trading volume of over $2 billion, the projected rally appears to be underway.One key metric that supports the bullish sentiment is the fact that 65% of Dogecoin wallet addresses are currently profitable, indicating a positive outlook among investors. Additionally, there has been a notable increase of 50,000 holding addresses for Dogecoin over the past 30 days, suggesting strengthening fundamentals and an undervalued status.The expert has set a short-term price target of 16 cents, projecting a nearly 100% rally from the current levels. This target is based on the expert’s earlier call this year when they disclosed purchasing a significant amount of Dogecoin at approximately 6 cents.Another factor contributing to the positive outlook is the upcoming Doge-1 satellite launch. Recently receiving crucial approval from the National Telecommunications and Information Administration (NTIA), the mission is set to launch in January 2024. The Dogecoin logo will orbit the moon and broadcast advertisements to Earth from space, adding a unique and positive dimension to Dogecoin’s community and future potential.Furthermore, the overall enthusiasm in cryptocurrency markets, particularly with Bitcoin’s recent surge above $42,000, is also fueling the positive sentiment surrounding Dogecoin. As Bitcoin consolidates, Dogecoin is expected to “steal the show” and outperform other cryptocurrencies.When considering Dogecoin’s historical performance and market position, it is evident that the cryptocurrency has shown resilience and outperformed meme coin counterparts like Shiba Inu and Floki. With a 21.60% increase this year, Dogecoin’s close correlation with Bitcoin, reflected in a correlation coefficient of 0.91, could prove pivotal, especially with Bitcoin’s upcoming halving in 2024 and the potential approval of a Bitcoin Exchange Traded Fund (ETF).There is also growing discussion about the inclusion of Dogecoin in Tesla’s Cybertruck payment choices. Although not publicly verified, the speculation aligns with Elon Musk’s affinity for Dogecoin and adds credibility to its potential application in real-world transactions.Disclaimer: This article does not endorse any content, accuracy, quality, advertising, products, or other materials mentioned. Readers are advised to conduct their own research before making any cryptocurrency-related decisions.