- Dogecoin has broken key resistance and is up 13%, signaling potential for a 45% rally amid a broader meme coin surge.
- Technical and fundamental indicators support further gains, though short-term corrections may occur due to overbought conditions.
Dogecoin (DOGE) is back in the spotlight, leaping over key resistance and igniting hopes for a substantial rally. Up 13% in the past 24 hours and now trading above $0.18, DOGE is charging ahead amid a meme coin resurgence that has also lifted tokens like SHIB, PEPE, and BONK to new monthly highs.
The breakout comes as DOGE shatters a long-standing descending trendline, part of a classic falling wedge formation that has been compressing since late 2024. This same pattern sparked a historic 300% rally in October of last year—and technical analysts are eyeing a similar setup today. Adding to the bullish case is a confirmed double-bottom pattern near $0.1445 and strong positioning above the 50-day Simple Moving Average.
Also read: Pepe Coin Set to Pop? Analysts Eye 7,220% Surge as Bullish Pattern Emerges
However, not all signals flash green. The Stochastic Oscillator and RSI suggest DOGE may be entering overbought territory, which could hint at a short-term pullback. Trading volume remains moderate, indicating that the rally may still be in its early stages. For savvy traders, this could mean better entry points are just around the corner.
Fundamentally, there’s plenty fueling optimism. The potential approval of spot DOGE ETFs—following filings by Grayscale and Rex-Osprey—has stirred excitement. Meanwhile, on-chain data reveals large holders accumulating millions of DOGE, historically a prelude to major price movements. Macroeconomic conditions could also lend support, with slowing U.S. growth and possible Fed rate cuts historically boosting crypto sentiment.
Should DOGE successfully breach the $0.1809 resistance, analysts project a near-term upside target of $0.2285—a 45% gain. Beyond that, the falling wedge breakout model points to $0.39, while ultra-bullish scenarios suggest DOGE could revisit $0.65 if momentum mirrors last year’s surge.
With Bitcoin hovering near $90,000, traders will watch closely—because if BTC breaks higher, Dogecoin could ride that wave straight to $0.26 and beyond.
For now, the dog is off the leash—and it’s running with the pack.
