Dogecoin (DOGE), the widely-discussed meme-based cryptocurrency, experienced an impressive surge of over 65% in its value within a week, reaching approximately $0.1414 and boasting a market capitalization exceeding $20 billion. Despite this, certain market indicators hint at a potential upcoming price adjustment.

According to insights from World of Charts, a prominent cryptocurrency market analyst, there's a chance Dogecoin's value could increase by more than 135%, setting its sights on $0.265. This forecast is supported by an in-depth analysis of DOGE's metrics by Hyblock Capital, indicating a breakthrough if the currency surpasses the $0.143 resistance level.

However, a closer examination of key data points suggests a less optimistic outlook. Despite the significant price surge, some indicators still point to bearish sentiment. For instance, the Weighted Sentiment of DOGE has decreased, indicating a rise in negative sentiment. Additionally, Open Interest has declined recently, signaling a potential bearish trend.

Moreover, Dogecoin has recently reached the upper limit of the Bollinger bands, and its Relative Strength Index (RSI) is in the overbought territory. These conditions suggest an imminent increase in selling pressure, which could disrupt the ongoing bullish trend. Nevertheless, the cryptocurrency market is inherently unpredictable, and only time will reveal whether Dogecoin will reach the projected $0.265 mark or undergo a downward correction.