Dogecoin News Today: Dogecoin Wedge Pattern Points to 190% Rally Potential as $0.30 Resistance Looms

Dogecoin is forming a broadening wedge pattern, with current price consolidation near $0.25 suggesting a potential breakout toward $1.40 [1]. Analyst Trader Tardigrade notes that Dogecoin has been trading within this pattern since mid-2023, characterized by a rising support line and a widening resistance channel. Historical precedent shows similar wedge formations have led to sharp price rallies [2].

Key support is currently holding at around $0.20, which has remained intact despite recent volatility. Resistance is thin above $0.30, and a successful breakout at this level could trigger a rapid ascent. The pattern indicates that if the price continues to hold above support and momentum builds, the next rally could drive Dogecoin to $1.4, a level that aligns with the top boundary of the wedge [1].

Technical indicators reinforce this potential shift in momentum. The RSI is trending upward following recent lows, signaling strengthening bullish pressure. Meanwhile, the MACD has begun to flatten, suggesting that bearish influence is waning. These signals collectively indicate that the market is preparing for a decisive move [2].

The wedge pattern has historically preceded significant price swings. For example, a sharp move from $0.06 to $0.22 occurred in late 2023, followed by a dip and a subsequent rise to $0.48 by mid-2024. A further pullback to the wedge support occurred in early 2025, and the price has since remained between $0.20 and $0.30. If this pattern continues, the next move could see Dogecoin reaching $1.4, a 190% increase from the previous high of $0.48 [1].

The wedge’s structure reflects a longer-term bullish trend, with each cycle generating higher highs and higher lows. The purple overlay in Trader Tardigrade’s chart highlights these repeated movements, reinforcing the likelihood of another upward push. Given the current setup and historical precedent, traders are advised to monitor the $0.30 resistance level as a critical point for confirming the next phase of the rally [1].

While the broader wedge framework supports the potential for a major price movement, near-term liquidity and buying pressure remain focused near $0.20. Once resistance above $0.30 is overcome, price acceleration could occur rapidly. Analysts emphasize that the wedge pattern, combined with improving momentum, provides a compelling case for a significant upside move [2].

Dogecoin remains in consolidation, but the pattern continues to hold firm. Traders who recognize the cyclical nature of its price action may find opportunities in the coming months, provided the current trend lines remain intact [1].

Source: [1] Dogecoin’s Wedge Pattern Suggests Potential Rally Toward $1.4 Amid Shifting Market Momentum (https://en.coinotag.com/dogecoins-wedge-pattern-suggests-potential-rally-toward-1-4-amid-shifting-market-momentum/)