Dogecoin News Today: Dogecoin Forms Broadening Wedge With Potential 190% Rally Toward $1.4

Dogecoin is forming a broadening wedge pattern on its price chart, a technical formation often associated with an upcoming breakout. According to analysis, the cryptocurrency has been trading within this structure since mid-2023, defined by a rising support line and an expanding resistance channel. The pattern suggests a potential move toward $1.4 if the price holds above key support levels and continues to gather momentum [1].

The most recent cycle saw Dogecoin rise from $0.06 to a peak of $0.22 in late 2023, followed by a sharp correction to the wedge's lower boundary in early 2024. A strong rebound pushed the price to $0.48 by July 2024, but by early 2025, it had pulled back again, testing support near $0.20. Since then, the price has remained in a consolidation phase between $0.20 and $0.30, aligning with the trendlines of the wedge [1].

Key resistance above $0.30 is currently thin, indicating that a breakout from this area could lead to a rapid and sharp rally. The technical indicators also show positive signs—Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) suggest fading bearish pressure and strengthening momentum, signaling a potential shift in market sentiment [1].

Long-term traders are particularly interested in the possibility of a move toward $1.4. This level represents a 190% increase from Dogecoin’s peak of $0.48 and aligns with the top boundary of the broadening wedge. While this target is speculative and not an immediate forecast, it reflects the potential of the pattern to unfold in a bullish direction [1].

Analysts caution that while the technical setup is favorable, a successful breakout will depend on sustained buying pressure and favorable market conditions. The immediate focus for traders is on whether Dogecoin can break above $0.25 and confirm a move toward $0.30. A strong breakout could trigger a retest of the $0.50 level and eventually validate the long-term potential of the wedge pattern [1].

Dogecoin currently trades near $0.2286, with RSI showing increasing bullish pressure. A decisive move above $0.25 would be a key confirmation level, reinforcing the case for a stronger rally. The broader cryptocurrency market is also under scrutiny, as altcoins like Dogecoin face increasing competition from emerging digital assets. Maintaining a position above $0.30 could help Dogecoin retain relevance in the top 10 crypto rankings, where sentiment and volume are significant factors [3].

While the pattern and indicators are encouraging, it is important to distinguish between actual price action and analyst forecasts. The $1.44 and $1.50 price targets mentioned in some models are speculative and depend on Dogecoin breaking above the $1.00 psychological barrier [2]. Until then, the focus remains on short-term price dynamics and whether the bullish case can convert into a real market move.

Sources:

[1] Dogecoin is trading around $0.2286 … (https://www.facebook.com/photo.php?fbid=748149****64913&set=a.130****63246274&type=3)

[2] Dogecoin (DOGE) Price prediction (https://www.bitget.com/price/dogecoin/price-prediction)

[3] Top 10 Shake-Up Ahead? Cardano and Dogecoin Risk ... (https://coincentral.com/top-10-shake-up-ahead-cardano-and-dogecoin-risk-losing-spots-to-two-surging-altcoins/)