Dogecoin – the famous meme coin with a passionate community on social media – may be preparing for a strong breakout towards the $2 price zone if the technical pattern of the past years continues to repeat.

1. Multi-year rising wedge pattern and potential resistance zone

Over the past 2 years, the DOGE chart has formed a purple rising wedge with a gradually increasing support line from $0.06 (end of 2023) to the current $0.17. Above, the resistance line of the wedge projects a price zone of $1.10 – $1.60 in the coming months.

Currently, DOGE is trading at $0.2219 (up 8.7%), after breaking the internal downtrend line of the wedge – which had blocked every rally since mid-2023 – in mid-July 2025.

2. Fibonacci roadmap and important price milestones

Traders are basing their Fibonacci retracement & extension levels drawn from the bottom $0.0491 to the peak $0.7605 to forecast the roadmap:

  • Support & recovery: DOGE has bounced back from the 0.382 retracement level at $0.1399 and the psychological level $0.20.

  • Current zone: sitting above the 0.50 Fib level at $0.1933, preparing to head towards 0.618 ($0.2671).

  • Next resistances: 0.702 ($0.3362), 0.786 ($0.4232), 0.888 ($0.5596).

  • Major target: complete recovery at the old peak $0.7605 and expand 1.272 Fib at $1.6017 – coinciding with the upper wedge.

3. Legendary fractal – “History may repeat itself”

On the chart, a blue overlay is laid over to accurately simulate the last rally of 2024:

  • At that time, DOGE rose 439% after touching wedge support, breaking the internal downtrend resistance, successfully retesting, and breaking out to the wedge peak.

  • Currently, DOGE has reached support at the end of June 2025, breaking the internal downtrend line in mid-July, and just successfully retested this week.

  • If the fractal continues to “rhyme”, DOGE may quickly soar to the $1.60+ zone, where Fib 1.272 intersects with the wedge peak.

4. Monthly frame perspective – RSI indicator supports the bulls

Analyst Charting Guy commented:

  • RSI is preparing to cross above the MA 50–55 – a signal that previously led to a 439% increase in early 2024.

  • Downward momentum since the 2024 peak, but RSI has never fallen into the oversold zone → the market is accumulating a base, not distributing a peak.

  • This is a signal indicating that DOGE still has strong upside potential in the coming months.

5. Conclusion

With the convergence of the rising wedge pattern, important Fibonacci levels, historical fractal, and monthly frame RSI support, DOGE may be on the brink of a major acceleration. If this scenario occurs, the $1.60 – $2.00 target is entirely feasible in the upcoming bullish cycle.