In the past 48 hours, Dogecoin has maintained a range between $0.21 and $0.23. Although it has dropped about 12.8% over the past week, it still stubbornly remains above $0.21. This stability is reflected in the 5-day candlestick chart as lower lows, and Dogecoin's next major movement may exceed most people's expectations.
Technical setups point to a breakout at $0.6533.
Dogecoin has once again created higher lows on the 5-day candlestick chart, continuing the trend of gradually raising lows that has formed since 2024. The ongoing rising low pattern indicates that, despite weak market sentiment, buying pressure remains stronger than selling pressure, showing support in the market. After each rebound, Dogecoin has successfully created new price bottoms, increasing the likelihood of continued upward movement. Specifically, the last two rebounds occurred in mid-July when Dogecoin broke through $0.27, and in August when the price briefly touched $0.25.
Although there have been pullbacks after the two rebounds, the candlestick chart shows that these lows are all above the previous highs and pullbacks. The recent breakout target has been set at $0.6533, which means that the price is expected to rise over 170% from its current level. This target stems from the technical setup of the breakout structure that Dogecoin has been undergoing for months.
After the breakout, $1.25 will begin to play a role.
If Dogecoin reaches the breakout target of $0.6533, it will be the strongest bullish rebound since early 2021. However, it has not yet reached its historical high of $0.7316.
Further predictions indicate a more aggressive outlook. Once the $0.6533 mark is broken, Dogecoin may continue to rise, targeting $1.25. This breakout will signify a significant turning point in the long-term trend, further driving prices to new highs and solidifying support above $1.
This level of rebound not only consolidates Dogecoin's position as the leading meme coin but may also allow its price to break through multiple historical highs, indicating a potential increase of 490% from current levels.
However, the primary task for Dogecoin bulls is to convert the current high-low structure into a decisive breakout. The current price of Dogecoin is $0.2131, down 2% over the past 24 hours.
In the past 48 hours, Dogecoin has maintained a range between $0.21 and $0.23. Although it has dropped about 12.8% over the past week, it has remained above $0.21, demonstrating strong resilience. Technical analysis shows that Dogecoin's next wave of upward movement may exceed most people's expectations, targeting a breakout above $0.6533, indicating a potential price increase of over 170%, with the possibility of further breaking through $1.25 also increasing.
