As Dogecoin (CRYPTO: DOGE) regains the 30-cent level, popular technical analysts are reiterating their bullish stance on the meme cryptocurrency.

What Happened: Popular cryptocurrency analyst Kaleo, who has almost 370,000 followers on Twitter, advised Dogecoin investors not to trade in the opposite direction of the cryptocurrency's breakout as it crossed the $0.3045 level.

See also: How To Buy Dogecoin (DOGE)

The Crypto Dog, another popular crypto analyst who has almost 593,000 followers on the microblogging site, noted that the Dogecoin/Bitcoin (CRYPTO: BTC) pair seems to have bottomed as it crossed the resistance level of 0.00000575.

Another closely-followed pseudonymous crypto trader known as Pentoshi told his almost 240,000 followers on Twitter that Dogecoin’s breakout has been "great" so far and now leads to the cryptocurrency rallying to touch the $0.42 level.

Why It Matters: These well-known cryptocurrency analysts have taken a bullish stance on Dogecoin in recent weeks.

Dogecoin’s year-to-date gains are an impressive 5,220.8%. However, the Shiba Inu-themed cryptocurrency is down 59.3% from its all-time high of $0.7376 reached in May and is now in seventh place in terms of market capitalization, as per CoinMarketCap data.

Price Action: Dogecoin is up more than 8% during the past 24 hours, trading at $0.3008 at press time.

Read Next: Dogecoin Gets Free Advertising As Coinbase Sponsors Mr. Beast Video: Why This Bull Is Charged Up

Photo: Courtesy of pinguino k via Flickr