DOGE Breaks 146-Day Channel as Whale Activity and MACD Crossover Signal 200% Price Surge Potential

Dogecoin (DOGE) has triggered renewed interest among traders following a bullish technical setup marked by a weekly MACD crossover, breakout from a 146-day channel, and a multi-year wedge pattern. The Moving Average Convergence Divergence (MACD) indicator, a key tool for assessing trend momentum, recently crossed above its signal line on the weekly chart, a pattern historically linked to upward price movements of over 200%. Analyst MikyBull Crypto highlighted this as the third significant crossover in two years, each preceding major price surges and technical breakouts [1]. The current configuration aligns with past cycles where such crossovers signaled sustained bullish trends.

The breakout from a 146-day ascending channel, formed since early March, further supports the bullish case. The price pierced the upper boundary in late July and retested support near $0.26, confirming the move. Trader Tardigrade noted that DOGE had adhered to the channel’s boundaries for months, creating higher lows and testing the upper range repeatedly before breaking out [2]. Post-retest, the price stabilized above the former resistance level, a pattern historically associated with multi-week rallies. Similar breakouts in the past were accompanied by increased trading volume and activity, reinforcing the continuation thesis.

On the monthly chart, DOGE also broke out of a descending wedge that had compressed the price between lower highs and a stable support level since mid-2022. Analysts interpret this as the potential start of “Cycle 3,” referencing prior wedge breakouts that led to all-time highs. The current price action mirrors these historical patterns, with volume and on-chain behavior suggesting heightened buyer interest [3].

Whale activity has intensified speculation about near-term price targets. Data from @ali_charts revealed over 310 million DOGE purchased by large holders in 48 hours, a surge often linked to renewed accumulation phases. The daily chart shows DOGE forming higher lows despite corrections, indicating sustained buying pressure. Analysts have identified intermediate targets at $0.52 and $0.68, with some projecting a potential move toward $1 based on the breakout and historical trends [4].

At press time, DOGE traded at $0.2349, down 8.76% in 24 hours but up 26% weekly. The 24-hour trading volume stood at $5.4 billion, reflecting heightened market activity. While the $0.70 target is frequently cited in market commentary, it remains a hypothetical projection rather than a confirmed forecast. Analysts caution that technical indicators like the MACD line remaining above the signal line (MACD: 0.079, signal line: 0.057) suggest strengthening momentum but do not guarantee specific price outcomes. Broader market conditions, macroeconomic factors, and crypto sentiment could alter the trajectory.

The recent developments underscore DOGE’s volatility and reliance on on-chain dynamics. The three-month trendline breach occurred amid elevated volume, signaling a shift in market psychology. However, the absence of tangible fundamentals—such as revenue growth or utility-driven demand—means DOGE’s price remains heavily influenced by speculative flows. Traders are closely monitoring whether DOGE can sustain momentum above the $0.10 psychological level, a benchmark for long-term adoption. Until such a move materializes, the $0.70 target remains a distant possibility rather than an imminent reality.

Source:

[1] [title: Bullish MACD Flash: Is DOGE Set to Hit $0.70 Next?][url: https://coinmarketcap.com/community/articles/68823d848583a45a07d71363/]

[2] [title: Crypto portfolio valuation by year end?][url: https://www.facebook.com/groups/119537788704696/posts/171****396082286/]

[3] [title: Ondo Hits $1.12 After ETF Filing By 21Shares Bullish Trend][url: https://www.tronweekly.com/ondo-hits-1-12-after-etf-filing-by-21shares/]