Dogecoin Could Be About to Surge: The Chart Shows This

Dogecoin has just broken out of a long-term downtrend line that has constrained the price since the end of 2024. According to Crypto Charts (@Cryptokartha on X), this breakout could mark the beginning of a significant shift. The current price of Dogecoin is around $0.20, and this breakout is occurring with strong momentum.

The pattern on the chart is a bullish flag pattern, which typically signals that a strong price increase is about to occur. This pattern forms when the price consolidates after an initial surge and then breaks out in the same direction. That is exactly what is happening with DOGE right now.

DOGE Price Could Increase Over 130%

Crypto Charts believes this breakout could push the price of Dogecoin up to around $0.47. If that happens, the price will increase by 135% from the current breakout point. The chart clearly marks this forecast with a vertical arrow, indicating how far the price could move if this bullish trend continues.

The bullish outlook is based on the strength of the pattern and timing. After several months of sideways movement and lower highs, the price of Dogecoin is now moving with strong conviction above resistance.

Why This Breakout Could Be a Big Deal

The consolidation forming this flag pattern began after Dogecoin's previous price increase at the end of 2023. Since then, the price has been tightening within this pattern. These types of setups can lead to explosive volatility when they are eventually resolved.

Now that DOGE has broken out, traders will closely monitor whether the price can hold above the old resistance level. If it does, and trading volume increases, the target of $0.47 will be more likely to be achieved.

The cryptocurrency chart may have detected something. Dogecoin has been quiet for a while, but this breakout could change that. The price of Dogecoin is currently showing strong technical signals, and if the upward momentum continues, this could be the beginning of another major price increase. The chart says it all. DOGE may be preparing for a stronger surge than in recent months.