Usman Salis
Dogecoin is back in the spotlight as traders eye what could be its most significant move in months. After consolidating within a large wedge pattern for an extended period, the popular meme coin has finally pushed through key resistance levels.
Technical Analysis: The Breakout Is Confirmed
Crypto analyst Clifton Fx recently flagged that $DOGE might be gearing up for a 200–300% rally, with price targets reaching the $0.70–$0.75 range if current momentum continues. The technical picture backs this bullish outlook, showing strong alignment across multiple timeframes for what could be the start of a major uptrend.
Looking at the 3-day DOGE/USDT chart, we're seeing some compelling technical developments:
- Wedge breakout confirmed — Price has cleanly broken above the long-term descending resistance line that kept it capped for months
- Support zone established — The $0.23–$0.25 area has flipped from resistance to support, reinforcing bullish structure
- Target zone identified — Based on the wedge projection, DOGE could rally toward $0.70–$0.75, representing over 200% upside potential
- Foundation holding strong — The ascending support trendline from mid-2023 remains intact, adding confidence to the bullish case
What's Driving This Setup?
Several factors are coming together to support Dogecoin's potential rally. Market sentiment has shifted as Bitcoin and Ethereum stabilize, creating room for altcoins to catch momentum from renewed speculative interest. Dogecoin's loyal and active community continues to generate buzz and enthusiasm around the coin, maintaining its cultural relevance in the crypto space. The technical pattern itself mirrors historical setups that have previously triggered major DOGE rallies, giving experienced traders a familiar roadmap. And let's not forget that meme coins tend to thrive during risk-on market phases, attracting both retail investors and short-term traders looking for quick gains.
Immediate support sits at $0.23–$0.25, and this zone needs to hold for the bullish scenario to stay intact. The first major resistance appears around $0.35–$0.40, which could pause the rally temporarily. If momentum pushes through that level, the main target zone of $0.70–$0.75 comes into play, aligned with the measured move projection from the wedge breakout.
Usman Salis
