Dogecoin (DOGE), the quintessential meme cryptocurrency, is back in the spotlight with a technical pattern that could propel it towards $0.30 in the coming weeks.

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📈 Technical Analysis: Ascending Triangle

According to analyst Trader Tardigrade, Dogecoin is forming an ascending triangle pattern on the daily chart. This pattern—composed of an upward support line and a horizontal resistance—usually anticipates a bullish breakout if the price manages to overcome the resistance.

So far, DOGE has touched the triangle lines four times: two at support and two at resistance. A fifth touch could be the spark for a breakout that takes the price towards $0.285 and even $0.30.

On the 4-hour (H4) chart, a converging wedge is also observed: an indication of price compression that could lead to a strong upward movement, as long as volume and momentum are maintained.

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🏦 Institutional Opportunity: Dogecoin ETF

On May 29, the firm 21Shares submitted an official application to launch a Dogecoin exchange-traded fund (ETF) in the United States. This proposal could mark an important milestone for the institutional adoption of DOGE, opening the door to traditional investors seeking exposure to the token without technical complications.

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📊 Key Levels to Watch

Resistance: Between $0.28 and $0.30, a key level that Dogecoin has tried to overcome several times.

Support: Between $0.22 and $0.23, where it has found a floor several times. A firmer support level is located at $0.18, which has proven to be a safe haven during previous consolidations.

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🔮 Outlook and Risks

If Dogecoin breaks the $0.30 resistance strongly and with volume, it could quickly head towards $0.35 or even $0.40. Conversely, a rejection at that level could bring it back to the support zone at $0.23 or even $0.18.

The technical pattern and institutional interest paint an encouraging scenario for DOGE, but traders must remain attentive to confirmations and volume before taking positions.

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🤔 Do you think Dogecoin will surpass $0.30 soon? Share your opinion with the community! 🚀

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