Prepare yourself if you've been wanting to purchase Dogecoin (DOGE/USD). The selling following the FTX collapse might have been excessive given that purchasers have been holding back a decline at a crucial level for more than two weeks. However, as more confirmations are required, it cannot be purchased altogether.

The depreciation of DOGE has been brought on by the broader crypto sentiment. The absence of encouraging news regarding Elon Musk's acquisition of Twitter has also hurt the meme token. There have been few to no signals from the DOGE parent regarding the use of the token as payment since the acquisition took place.

Gokhshtein Media's David Gokhshtein has expressed ideas that the Doge community may find interesting. Gokhshtein claims he anticipates Musk and the creator of Ethereum working together on a critical Dogecoin upgrade. The opinions coincide with comments made about the original Dogecoin by Ethereum founder Vitalik Buterin. The blockchain should switch to the Proof-of-Stake consensus, according to Buterin. If the switch happens, it will be done using the Ethereum code.

In May, Musk put forward effort to enhance the DOGE transaction system. If DOGE is to be accepted as payment, the acquisition of Twitter might reopen discussions over the upgrade.

DOGE trades close to the $0.09 barrier level.

On the daily chart, DOGE can be seen attempting to break through the $0.09 barrier. A 10% intraday increase for the cryptocurrency shows that buyers are present at this pivotal point. There will soon be a breakout.

The weakness has decreased, but the MACD indicator is bearish. As buyers enter the market, the RSI has risen over the neutral level.

What will DOGE do next?

If the daily candlestick closes above the level, a breakout at the current price of $0.09 for Dogecoin is imminent. A breakout would signal the start of a bullish trend, with $0.14 as the next level. Investors should keep an eye on the price action and buy when it breaks out.