Dogecoin fell 7% earlier this week, wiping out much of its gains from last Friday. But a couple of chart watchers say the pullback could be brief.

According to analysis by Jake Wujastyk, the meme token is poised for a strong rise once key levels are maintained. According to reports from analyst Bitcoinsensus, there is even more bullish potential outlined in detailed patterns.

## The chart pattern signals a possible breakout

Jake Wujastyk detected a descending triangle that began to form after Dogecoin reached $0.26 on May 11. Prices fluctuated between the upper resistance line and a lower support line, tightening the wedge. Previously, DOGE rose 8% in a single session, approaching the upper trend line $DOGE