Dogecoin News Today: Dogecoin Surges 12.38% as Bull Flag Breakout Signals Uptrend

Dogecoin has successfully broken out of a Bull Flag pattern on the 4-hour timeframe, signaling a continuation of its upward move. The breakout above the descending flag channel has been supported by strong volume and bullish momentum, with the next technical price target set at $0.264. This pattern typically signals a pause before the next move in the direction of the previous trend.

The breakout was confirmed by a strong move beyond the upper channel line, accompanied by increased volume. Price surged past the $0.21 mark, indicating renewed buying pressure. The projected target based on the flagpole height stands at $0.264, using a standard technical measurement technique.

Price action on the 4-hour chart shows consistent higher lows and continued strength above short-term moving averages. Support held above $0.2300 throughout the day, while resistance at $0.2400 was surpassed during the upward momentum.

Dogecoin is currently trading at $0.2407, showing a 12.38% increase in the past 24 hours. Market capitalization has climbed to $36.15 billion, placing Dogecoin at the #8 spot in global rankings. Trading volume increased by over 65% to reach $5.79 billion, confirming higher investor participation.

According to an observation by Kev_Capital_TA, Dogecoin remains in a recovery phase and could reach the $0.28 to $0.30 area. He stated that it is “only a matter of time before Dogecoin makes its move back up to the .28–.30 level and then well beyond.” He added that Bitcoin’s performance near $120,000 remains crucial to sustain this trend. DOGE continues show strength, maintaining momentum as long as support levels hold and volume remains steady.