Dogecoin (DOGE) Breaks Out of Falling-Wedge Formation, Analysts Predict 138% Gain

Dogecoin (DOGE) is once again breaking out of a textbook falling-wedge formation, and the analyst who anticipated the memecoin’s last three-fold explosion thinks the stage is set for an encore. World Of Charts (@WorldOfCharts1) shared a 12-hour Binance chart with his followers, stating, “Breaking crucial area, expecting solid bullish wave in midterm.”

He referenced a post from April 13 where he predicted: “Doge: We caught this big move in Oct 2024, Dogecoin went more than 3×. Now again Doge [is] on [the] verge of massive breakout… expecting 3× from here.” The chart shows five months of compression that began when DOGE topped at just under $0.48 in early December. Since then, every rally has stalled beneath a descending resistance trendline, which now cuts through the mid-$0.155 zone; parallel support currently tracks the $0.14 area after cushioning a pair of capitulation wicks in March and April. The price is now breaking out of the upper boundary for the first time in almost two weeks.

World Of Charts’ measured-move overlay starts at the notional breakout above $0.17 and projects a vertical advance of $0.21804, implying a primary objective just shy of $0.39—a 138% gain from the trigger and within striking distance of the psychological $0.40 handle. If the setup delivers the same magnitude as last year’s wedge, the could ultimately test $0.65, completing a fresh three-fold rally.

The time symmetry behind the call is hard to ignore: the current wedge has compressed for almost six months, mirroring the consolidation that preceded the October–December 2024 eruption from $0.11 to $0.48. Volume has thinned with each contraction cycle, a classic pre-breakout signature, while momentum oscillators on lower time frames are beginning to tilt positive as spot reclaims its 50-EMA.

Other analysts remain focused on Bitcoin’s grip over market beta. Kevin (@Kev_Capital_TA) cautions, “If BTC breaks above $89K and shows conviction upwards I think Dogecoin gets back to $0.26 relatively quick.” In his analysis, $0.26 represents the 0.618 Fibonacci retracement of the November–March slide, marking the first substantive hurdle even if DOGE clears wedge resistance.

From a pure chart-based perspective, the battle lines are now sharply drawn. A decisive daily close above trendline and a successful retest would confirm the breakout, shift the red demand band into a springboard, and expose successive targets. Failure to punch through would keep price pinned inside the pattern, with any slip below $0.15 risking a slide toward structural support at $0.13 and, in extremis, the $0.11 pivot that launched last year’s parabolic ascent.

At press time, DOGE traded at $0.1641.