Dogecoin ticked up slightly to $0.17 on Friday, gaining 1.0% over the past 24 hours. Trading has slowed this week, and Dogecoin has declined nearly 3% over the past seven days. Based on reports, investors are acting cautiously as trading volume decreased by 30% to around $678 million.

Warning Signal: Decreasing Trading Volume

According to on-chain data, the decline in daily trading volume indicates fewer traders are participating. The 34% drop in activity shows bearish momentum.

Some market watchers say low volume often leads to strong volatility. When little money is changing hands, even modest buy or sell transactions can push prices sharply in either direction.

Triangle Pattern Indicates Upcoming Breakout

On the chart extending from early 2024 to mid-2025, Dogecoin aligns with a symmetrical triangle. Prices have created lower highs and higher lows as the trendlines converge.

Data from cryptocurrency analyst Ali indicates that this narrowing range often precedes a big move. He notes that the apex of the triangle is expected in June 2025, setting a timeline for when volatility will increase.

DOGE Bulls Eye Breakout

According to Ali's analysis, a daily close above $0.22 could signal a bullish breakout. If that happens, he sees Dogecoin reaching around $0.35 or $0.36—about 60% higher than the current level.

On the other hand, a drop below $0.16 could trigger a sell-off down to $0.10. Investors are closely monitoring those levels to decide whether to join buyers or cut losses.

DOGE Price Forecast

Digital Coin prices are optimistic. They predict Dogecoin could surpass $0.37 before the end of the year and even retest the old high of $0.74.

Market catalysts can shift the balance.

Dogecoin's volatility often reflects the broader cryptocurrency space or tracks social media chatter. A price increase in Bitcoin or Ethereum could lift DOGE higher, while a broader sell-off would amplify losses. Some traders are also keeping an eye on endorsements from prominent figures and listings on major exchanges.

Currently, patience may pay off. Traders will look for volume to confirm any move above $0.22 or below $0.16. Until then, expect price action to fluctuate within range.

The coming weeks will be critical as the symmetrical triangle tightens. If volume returns, Dogecoin could choose a clear direction—either a strong bullish move or a deeper correction.