Dogecoin Surges 78% in 38 Days, Analysts Predict $0.32 Target

Dogecoin has experienced a significant rally, surging by more than 78% over the past 38 days. This impressive performance has led analysts to believe that the cryptocurrency's upward trajectory is more than just a temporary spike. Two independent studies, published on X by chartists Bluntz and TSG, have identified classical continuation structures that remain intact despite Dogecoin peaking at $0.2597 on Sunday. Both analysts agree that the next target for Dogecoin lies in the mid-$0.30s.

Bluntz's analysis, based on a twelve-hour Binance chart, reveals an almost textbook inverse head-and-shoulders pattern that formed in late February and was confirmed in early May. The left shoulder was established in mid-March around $0.142, the head was formed at approximately $0.129 in the first week of April, and the right shoulder completed at the start of May at $0.164. A descending neckline that had capped the price for the past two months intersected around $0.20, breaking through on the heaviest twelve-hour volume cluster since February 2025. This breakout indicates real participation rather than thin-order-book volatility.

Following the breakout, Dogecoin's price surged to nearly $0.26 before experiencing a modest pullback to $0.217. The Relative Strength Index (RSI), which briefly touched the oversold area during the breakout, has since cooled to the low-60s. This suggests that overbought conditions have been reset without compromising the bullish structure. The measured-move rule for an inverse head-and-shoulders pattern, which involves the neckline to head depth of roughly eight cents, projects an initial target in the $0.26-$0.28 region, aligning with Bluntz's chart that indicates a target in the low-$0.30s.

TSG's analysis, focusing on the four-hour timeframe, observes a similar impulse consolidating within a descending parallel channel spanning $0.22–$0.26, a classic bull flag. On a breakout, TSG assigns a precise target of $0.32928. This outlook is supported by a time projection that anticipates the next decisive move within the coming days. If the flag fails, invalidation would occur on a four-hour close beneath the lower channel boundary near $0.20. Below that, a demand block between roughly $0.16 and $0.21 aligns with the rising trend-line that has supported price action since early April, offering bulls a secondary zone to reload.

Combining the insights from both studies, a clear roadmap emerges. If Dogecoin maintains its position above the $0.20 area, the next price target could be the $0.32 region. At the time of writing, Dogecoin was trading near $0.228, hovering near the breakout line of the descending trend channel that has dominated price actions since December last year. The midline of this channel, situated just below $0.20, reinforces the importance of this level for the continuation of the bullish impulse.