On June 21, Dogecoin's price slightly rose to $0.17, with an increase of about 1.0% within 24 hours. However, the trading atmosphere this week has been sluggish, with Dogecoin's price falling nearly 3% in the past seven days. According to data, trading volume has decreased by 30% to about $678 million, with investors generally adopting a cautious attitude.
Declining trading volume hides risks
On-chain data indicates that daily trading volume has plummeted by 34%, reflecting reduced market participation. Experts point out that a decrease in trading volume may lead to increased price volatility, as even small trades could trigger significant price swings.
Triangle pattern indicates a breakout
From early 2024 to mid-2025, the price trend of Dogecoin forms a symmetrical triangle, with prices fluctuating between lower highs and higher lows. Crypto analyst Ali notes that this pattern typically foreshadows significant volatility ahead, expecting the triangle to narrow by the end of June, when a clear price direction may emerge.
Ali analyzes that if the daily closing price breaks above $0.22, Dogecoin may enter a bullish trend, targeting a price of around $0.35 to $0.36, with a potential increase of 60%. Conversely, if it falls below $0.16, it may trigger a sell-off, with prices potentially dropping to $0.10. Investors are closely watching these two key levels.
Market predictions and catalysts
Some analysts hold an optimistic view on Dogecoin, predicting that the price may break above $0.37 before the end of the year, and even retest the historical high of $0.74. Dogecoin's price is often affected by the overall crypto market, and fluctuations in Bitcoin or Ethereum may drive its volatility. Additionally, social media discussions, celebrity endorsements, or new exchange listings could also serve as price catalysts.
Currently, the price of Dogecoin is fluctuating between $0.16 and $0.22, with low trading volume. In the coming weeks, as the triangular pattern tightens and trading volume changes, the market may see a clear direction—either a strong rebound or a deep correction. Investors need to remain patient and closely monitor the breakout of key levels.
