Saad Ullah
Dogecoin is back in the spotlight as traders notice some interesting patterns developing on the weekly charts. The meme coin that's surprised everyone before might be gearing up for another run, with technical indicators showing formations that look remarkably similar to setups that preceded DOGE's biggest rallies in the past.
Dogecoin Price Outlook: RSI Magnet Effect in Focus
DOGE is getting traders excited again as its weekly chart shows a setup that looks very familiar. There's a pattern emerging that suggests the price could get "pulled" higher, with the technicals lining up just like they did before those explosive moves we've seen before.
Trader @TATrader_Alan recently pointed out this formation, highlighting how DOGE's RSI is copying the same patterns that kicked off major breakouts in the past. If this signal works out like before, DOGE could be setting up for its next big leap.
DOGE Price Action and Weekly RSI Levels
The weekly RSI chart shows a rounded bottom formation that's very similar to what we saw before Dogecoin's last two major rallies. These setups have historically worked like magnets, pulling the price up once the RSI breaks through the middle range.
Right now, DOGE is hanging around the $0.20–$0.25 area, with traders eyeing targets at $0.35 and $0.47. If the RSI momentum keeps building, some analysts think DOGE could push much higher, possibly back toward those $0.70+ levels we saw during previous bull runs.
The mood around DOGE is cautiously optimistic. While we'll probably see some ups and downs in the short term, the combination of strong RSI signals and this repeating magnet pattern makes a breakout more likely.
If Bitcoin stays stable and money starts flowing into meme coins again, Dogecoin could be perfectly positioned to capitalize. With the RSI showing upward pressure, we might be looking at another parabolic DOGE rally sometime in 2025.
Saad Ullah
