Dogecoin has strongly broken through the wedge constraint, with the $1 target within reach. Will this time rewrite the historical high point record?
Cryptocurrency analyst "Surf" pointed out on X based on technical pattern analysis that Dogecoin (DOGE) may be brewing a new trend. His recent analysis based on the weekly chart of Dogecoin indicates that a classic pattern often signaling a breakthrough has appeared in the chart.
Dogecoin repeats the wedge pattern
Analyst "Surf" pointed out through the weekly chart of Dogecoin (DOGE) that its price trend is showing a descending wedge pattern that has appeared many times in history. The chart shows that this cryptocurrency has formed this pattern twice since 2014, completed in 2016 and 2018-2020 respectively, subsequently triggering the surge in 2017 and the significant rise in 2021.
The current third similar wedge pattern is close to completion. As of the latest weekly closing, Dogecoin is priced at $0.22747, testing the upper boundary of the wedge, suggesting a possible breakout. Historical data shows that this technical pattern often signals a parabolic upward trend.
The analyst did not specify the exact target price after the breakout, but market consensus is pointing towards Dogecoin possibly breaking through the long-anticipated $1 mark. Some comment that it "doesn't need too many conditions to take off," and X user Mark described it as "$1 is like a magnet attracting." Surf agreed with this. However, some observers expressed frustration over the delayed breakout.
Interestingly, analyst Trader Tardigrade also gave an optimistic expectation based on the three-day chart of Dogecoin (DOGE), believing it is likely to soar to around $1.
His analysis is based on historical trends: from November 2023 to March 2024, Dogecoin rose from $0.06613 to $0.2266 (an increase of 242.65%), then fell back to $0.08 in August 2024; in December of the same year, it broke through again, soaring 500% from a low of $0.08083 to $0.4835.
After hitting a low of $0.1315 in April 2025, Dogecoin has rebounded to the current $0.22747. Tardigrade believes that after this round of increase is completed, Dogecoin may break through the historical high of $0.73, or even challenge the $1 mark, stating that "the launch pad is ready, preparing for takeoff."
