Dogecoin News Today: Dogecoin Surges 4.56% Amid Bullish Channel Pattern, Eyes $1.20 Target

Dogecoin (DOGE) is gaining traction among traders as weekly chart analysis highlights a strong ascending channel structure, positioning the price within a sustained bullish pattern. The cryptocurrency has recorded a series of higher highs (HH) and higher lows (HL) since late 2023, reinforcing its current trajectory toward a potential $1.20 price target [1]. The latest price action sees DOGE trading at $0.2446, with a recent 4.56% gain, reinforcing the momentum within the channel [1].

The weekly chart reveals a consistent price pattern characterized by dynamic support and resistance levels. Since its low near $0.055, DOGE has remained within a well-defined ascending channel, with the lower boundary acting as consistent support during retracement periods. Higher lows have formed repeatedly near the $0.145 level, indicating strong accumulation by buyers [1]. These patterns have held across multiple market cycles, adding credibility to the bullish outlook.

Currently, DOGE is positioned near the midline of the channel, having recovered from a consolidation phase. A breakout above $0.28 could signal the next leg of the upward move, potentially pushing the price toward $0.46–$0.50. Beyond that, the $1.20 level serves as the final resistance in the projected path [1]. The channel’s upper boundary has not been tested yet, making this price level a critical marker for traders monitoring the asset.

Historical context adds further weight to the analysis. Past surges within the channel have demonstrated DOGE’s ability to sustain momentum after breaking key resistance levels. Previous HH breakouts led to rapid price increases, such as the move from $0.09 to $0.45 and later from $0.15 to $0.73 within similar timeframes. The current chart projection mirrors these patterns, suggesting a stepped rally toward $1.20, with consolidation phases expected along the way [1].

However, caution remains necessary. Failure to maintain momentum above $0.28 could delay the broader rally and keep DOGE in its current consolidation range. Traders are closely watching volume patterns to validate the breakout, as historically, strong inflows have accompanied DOGE’s major price expansions [1]. A sustained move above $0.28, confirmed by increased volume, would likely attract more market interest and reinforce the bullish case.

According to Bitget’s technical analysis, DOGE is currently rated as a “Strong buy,” based on its recent price behavior and channel structure [1]. This assessment aligns with broader market sentiment, where $1.20 emerges as a focal price target not only for DOGE but also for other altcoins like LEASH and ADA [2].

Sources:

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

[2] Doge Killer (LEASH) price Prediction (https://www.bitget.com/price/doge-killer/price-prediction)

[3] Best Altcoins to Buy Now After Bitcoin's All-Time High (https://icobench.com/news/best-altcoins-to-buy-now-after-bitcoins-all-time-high/)

[4] ADAUSDT.P trade ideas (https://www.tradingview.com/symbols/ADAUSDT.P/ideas/)