TLDR
- Dogecoin is trading at $0.2222 after gaining 3.7% in the past 24 hours
- Analysts identify a bullish rising wedge on the weekly chart since late 2023 lows
- The price is approaching Ichimoku Cloud resistance between $0.27 and $0.30
- A break above $0.30 could open targets at $0.45 and $1.10
- Long-term ascending channel patterns suggest potential rallies to $0.45 and $0.75
Dogecoin is showing strong upward momentum as technical indicators point to a possible breakout toward the $1 level. The cryptocurrency is trading at $0.2222, marking a 3.7% gain in the past 24 hours. Analysts see key bullish formations on higher timeframes that could lead to a significant rally.
Dogecoin Forms Bullish Wedge Toward Breakout
Crypto analyst Stonk Chris noted Dogecoin is forming a bullish rising wedge on the weekly chart since bottoming at $0.055 in late 2023. The structure shows higher highs and higher lows, supported by two rising trendlines connecting major price points. He stated, “A clean break above resistance could send DOGE toward $1.10.”
Alright it’s time, send $DOGE to $1 right now! pic.twitter.com/kuwo2wctOQ
— Chris (@StonkChris) August 8, 2025
The wedge’s lower trendline links lows at $0.057, $0.085, and $0.14, while the upper line connects highs at $0.22 and $0.45. Current price action sits near the Ichimoku Cloud resistance between $0.27 and $0.30, a historical barrier to further gains. A breakout above this cloud could confirm a bullish reversal and open the path to the wedge’s upper boundary.
If Dogecoin closes above $0.30, analysts project near-term targets at $0.45 and $1.10. However, a failure to break resistance may lead to a retracement toward $0.18 or $0.13. The long-term support at $0.055 remains intact as the cycle’s base.
Long-Term Channel Points to Major Upside
Trader Tardigrade observed Dogecoin has completed its third point touch at the bottom of its long-term ascending channel on the monthly chart. Historically, this point has preceded strong rallies, as seen before the 2017 and 2021 surges. He compared the current setup to the 1-2-3 accumulation phase seen before major breakouts in past cycles.
$Doge/monthly#Dogecoin has completed the third point touch at the bottom of the channel 🔥 pic.twitter.com/FsGdOHGoBp
— Trader Tardigrade (@TATrader_Alan) August 8, 2025
The upper boundary of the channel indicates potential short-term rallies toward $0.45 and $0.75. A breakout beyond this range could target between $5 and $15, following the scale of previous moves. Earlier, Trader Tardigrade forecasted a 235% rally to $0.6900 based on the broader consolidation base.
Dogecoin’s current formation mirrors historical price behavior during extended accumulation periods. If buying pressure continues to build at support levels, this alignment strengthens bullish projections. The pattern suggests that the recent consolidation could be ending.
Ascending Channel Signals Possible Breakout
Crypto analyst Dogegod highlighted Dogecoin’s bounce from $0.188 support on July 15, pushing toward $0.288 near channel resistance. If the channel holds and momentum sustains, he projects a 135.7% increase to $0.4854. A breakout beyond the all-time high of $0.7376 could follow.
Dogecoin’s recent movement within the ascending channel suggests a clear structure of higher lows and higher highs. This price action signals sustained bullish sentiment as the token approaches a critical resistance level. Breaking this structure could lead to rapid price acceleration.
If momentum persists, DOGE could target multiple key levels in succession. Analysts agree the next weeks will be decisive for confirming the breakout. The $1 target remains within reach if technical signals align with continued buying activity.
