Dogecoin broke out above $0.16 within its wedge structure, repeating past rallies that reached $0.20 and $0.45 with clean symmetry.
DOGE reclaimed $0.20040 after completing a cup and handle formation backed by $10.74M in volume, now targeting $0.24 next.
With price holding key levels and volume rising, Dogecoin remains on track toward the upper wedge resistance near $1.00.
Dogecoin is gaining momentum across multiple timeframes, breaking out of two powerful technical structures with price now pressing key levels. The recent move reflects a continuation of long-term trend behavior that started in 2023, while short-term signals confirm aggressive interest returning to $DOGE.
Breakout from wedge structure fuels long-term upside
Dogecoin is trading inside a broadening ascending wedge that has guided price action since mid-2023. This structure has triggered multiple vertical moves, each beginning with a bounce from the lower trendline. DOGE rallied from $0.10 to $0.20, then climbed from $0.20 to $0.45. The current bounce, forming above $0.16, is replicating the same conditions seen in previous waves.
This structure shows price breaking diagonal resistance again. The breakout candle formed just above the trendline with strength. The chart displays clear symmetry between each impulse leg, and all waves carried price to the upper wedge band. The projected path from the current zone points to $1.00. The wedge remains unbroken, and Dogecoin continues to track the channel with precision. Volume is rising as price builds momentum into the mid-range.
Each of the previous rallies began from a similar position—compression at the wedge floor, followed by a strong breakout. DOGE is repeating that setup now. Traders are watching whether $0.30 is reached in the coming sessions, which would complete the current expansion wave before price pushes toward the $1 target level.
Cup and handle confirms near-term breakout target
On the 1-hour chart, Dogecoin completed a full cup and handle formation between July 11 and 14. The handle broke out with volume reaching $10.74M. Price reclaimed $0.20040 and is holding it as short-term support. This breakout structure now targets $0.24, which aligns with the cup’s projected move.
Source: TradingView
Whale accumulation was confirmed during the formation, showing capital rotation back into DOGE. Trading activity surged alongside the breakout candle. The handle showed controlled pullbacks before bulls took control again. Now, with both formations complete, Dogecoin is in an active breakout state.
DOGE is holding key levels, printing confirmed structures, and volume is climbing. If momentum holds above $0.20040, Dogecoin can extend toward $0.24, with the $1.00 zone still firmly in play.
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