Analysts Say Dogecoin is Ready to Break Out After Months of Decline

This meme coin, fluctuating around the 0.16 dollar mark for several weeks, is now signaling a potential breakout that could mark a new growth phase. An important indicator is the re-emergence of the descending wedge pattern — a historically bullish formation — identified by cryptocurrency chartist Trader Tardigrade. He notes that DOGE has formed this structure three times in the past two years, each time preceding a significant price increase.

The latest price is said to be higher than previous levels, indicating that a breakout could be even more explosive, potentially pushing DOGE above $0.95 if history repeats itself.

This setup follows a long period of drifting and hesitation, but other analysts are also noting subtle momentum changes. AlienOvicho, another trader, emphasizes that Dogecoin has started to breakout of the descending trendline on lower timeframes. Although no full confirmation of a price increase has been made, initial signs suggest that the price will move towards the $0.20 range — an important level close to the previous local high. While the market remains volatile, Dogecoin may be quietly preparing for its next big move.