Dogecoin Breakout Incoming? $3 Target On The Horizon—Analyst
#Dogecoin has held steady above $0.22 since May 20 and climbed back after a brief dip. It hit $0.25 on May 23, then eased into the weekend. In the last 24 hours, the token is up 4.1%. Over a week, it’s up 5%, even though it slipped midweek.
The Triangle Pattern
According to TradingView analyst Akbar Karimzsfeh, Dogecoin has been tracing a long, tightening triangle since its all-time high of $0.73536 on May 3, 2021. That peak was followed by a drop to $0.048 on June 13, 2022. Since then, every attempt to break lower—on June 5, August 14 and October 9 of 2023—has failed. The lines of the triangle are closing in. When they meet, a sharp move is likely.
Key Resistance Levels
Based on data, the upper trendline of the triangle also matches the top of a large “cup” pattern around $0.4916. There was an attempted breakout in December 2024, and prices almost hit that $0.4916 mark but got pushed back. After that, DOGE slid down to $0.13. It has since recovered some ground, but it still has to clear that $0.4916 hurdle before bulls can claim real control.
