Usman Salis
After years of bleeding out from its 2021 peak, Dogecoin might finally be turning the corner. If this setup plays out, we could be looking at a move toward $4.14, a price level that would dwarf the meme coin's previous all-time high.
The Pattern Breakdown
Technical analyst Trader Tardigrade recently shared a chart showing DOGE forming a textbook rounding bottom pattern—one of the most reliable bullish signals in technical analysis.
The rounding bottom has been forming across three distinct phases:
- The Decline (2021–2023): After hitting $0.73 in May 2021, DOGE crashed hard—losing over 90% of its value through a brutal bear market that wiped out speculative demand
- The Bottom (2023–2024): DOGE flatlined between $0.05 and $0.10, building a strong support floor where sellers exhausted themselves and patient investors quietly accumulated
- The Recovery (2024–present): Monthly candles have started curving upward, forming the right side of the pattern and signaling early-stage reversal momentum
The key level now is around $0.55—the pattern's neckline. If DOGE breaks above that with conviction, it would validate the setup and open the door to the $4.14 measured target.
Why This Could Actually Happen
A few things are lining up in Dogecoin's favor. Bitcoin's 2024 halving historically kicks off broader crypto bull runs, and DOGE tends to ride those waves. The coin's massive community and meme appeal keep it relevant, while growing payment integrations and Layer-2 discussions give it more substance than just internet hype. The chart's symmetrical curve and volume patterns suggest accumulation has been quietly happening—and if buyers step in after a breakout, the rally could be explosive.
Dogecoin's monthly chart is showing one of its most bullish setups since 2021. The rounding bottom pattern is clear, the target is ambitious, and the market conditions might finally be right for a comeback. If DOGE can push through $0.55 and hold it, we could be watching the start of a historic run. Until then, it's a waiting game—but the setup is hard to ignore.
Usman Salis
