[Super Strong Reversal Signal] After Dogecoin's 70% Plunge, Can It Welcome a Stunning Recovery?

Dogecoin is facing a major reversal! Breaking through $0.15 could trigger a surge!

Since reaching a high of $0.48 in 2021, Dogecoin (DOGE) has seen its price drop over 70%, entering a long-term consolidation phase. The current price has formed a descending wedge pattern, and historical data suggests this typically indicates an impending reversal. DOGE is currently near the $0.15 support level, which aligns with the 200-day EMA and could be a key breakout point.

Technical analysis suggests potential for an upward breakout

The price of Dogecoin has formed a tightening trend, and breaking through the resistance of the descending wedge usually indicates that the market may be on the verge of a major reversal. The current support level is around $0.15, and if the price maintains this position, DOGE could break out and move upwards to $0.23, $0.27, or even $0.38.

Whale activity indicates future rebound opportunities

Despite the price drop, whale activity shows sustained buying interest. Especially when the price dropped to $0.15, whale trading volume increased, indicating that large investors still have confidence in DOGE's future.

Price targets and key support levels

In the short term, DOGE's key support levels are at $0.149 and $0.140. If these levels are broken with increased trading volume, DOGE's rebound could see a strong rise. Conversely, a drop below $0.135 could negate the bullish scenario.

The market will closely watch whether DOGE can break through the range of $0.23 to $0.27; once broken, this would mark the beginning of a new upward cycle for DOGE.