Dogecoin has just broken out of a long-term descending trendline that has been suppressing the price since late 2024. According to Crypto Charts (@Cryptokartha on X), this breakout could mark the beginning of a major move. The current Dogecoin price is around $0.20, and the breakout is happening with strong momentum.
The pattern on the chart is a bullish pennant, which often signals that a sharp upward move is on the horizon. This setup forms when price consolidates after an initial spike and then breaks out again in the same direction. That’s exactly what seems to be happening now with DOGE.
DOGE Price Could Rally by Over 130%
Crypto Charts believes this breakout could push the Dogecoin price up to around $0.47. If that happens, it would be a 135% increase from the current breakout point. The chart clearly marks this projection with a vertical arrow, showing how far the price could move if this rally follows through.
The bullish outlook is based on the strength of the pattern and the timing. After months of sideways movement and lower highs, the Dogecoin price is now moving with conviction above resistance.
Why This Breakout Could Be a Big Deal
The consolidation that formed this pennant began after Dogecoin’s previous surge in late 2023. Since then, the price has been coiling tighter inside this pattern. These kinds of setups can lead to explosive moves when they finally resolve.
Now that DOGE has broken out, traders will be watching closely to see if the price holds above the former resistance. If it does, and volume picks up, that $0.47 target becomes more likely.
Read Also: XRP Price Ready for ‘Blast Off’, Crypto Veteran Predicts
Crypto Charts may be onto something. Dogecoin has been quiet for a while, but this breakout could change that. The Dogecoin price is now showing strong technical signals, and if momentum continues, this could be the start of another major run. The chart says it all. DOGE might be getting ready to rally harder than it has in months.
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