TLDR
- Dogecoin is consolidating in a symmetrical triangle pattern between $0.16 and $0.22, with analysts expecting a 60% price move upon breakout
- A close above $0.22 could target $0.35, while dropping below $0.16 may lead to $0.10 support area
- Some analysts project DOGE could reach $5 based on repeated triangle breakout patterns from historical data
- More than 75% of Binance derivatives traders are currently long on DOGE, showing bullish sentiment
- The $0.16 support level remains critical for maintaining bullish momentum and preventing further decline
Dogecoin price has been trading within a narrow range as it forms a symmetrical triangle pattern that could determine its next major move.
The meme coin has been consolidating between $0.16 and $0.22 over recent trading sessions. Current price sits at around $0.17 as traders wait for a decisive breakout.
Crypto analyst Ali Martinez identified the triangle formation on daily charts. The pattern consists of descending resistance from November 2023 highs and ascending support from October 2023 lows.
#Dogecoin $DOGE looks prime for a 60% price move! All you need to do is wait for a daily close outside of the $0.16 to $0.22 range to determine the direction of the trend.
So go to @coinexcom, sign up using my referral link https://t.co/73n8mWavUX, and join me in this trade! pic.twitter.com/Im27DBuBka
— Ali (@ali_charts) June 19, 2025
Martinez projects a 60% price movement once DOGE breaks outside the current range. A daily close above $0.22 could push the price toward $0.35 as the next target.
Conversely, a breakdown below $0.16 support might send DOGE down to the $0.10 area. The consolidation period has lasted several months, increasing the likelihood of an imminent breakout.
Triangle Patterns Point to Explosive Moves
Symmetrical triangles typically precede high-volatility price movements. The tightening range indicates declining volatility before potential explosive development.
Volume has remained modest during the consolidation phase. This suggests that whichever direction breaks first could see strong follow-through momentum.
CryptoELITES analyst presented a more ambitious outlook for DOGE. The analyst highlighted historical triangle patterns that preceded major price rallies.
Dogecoin target: $5
If you’re not expecting $5, you probably don’t know anything.$DOGE #DOGE pic.twitter.com/TbnxTd45ok
— @CryptoELlTES (@CryptooELITES) June 18, 2025
According to this analysis, Dogecoin appears to be forming a fourth similar pattern. Previous triangle breakouts led to substantial upward moves in DOGE price.
The analyst suggests DOGE could potentially reach $5 if the pattern repeats. Such a move would require over 2,800% growth from current levels.
Short-Term Patterns Show Building Pressure
Trader Tardigrade identified an ascending triangle on hourly timeframes. This pattern shows resistance around $0.172 with rising support levels.
#Dogecoin could be forming an Ascending Triangle as its bottom in LTF 🔥$Doge/H1 pic.twitter.com/2cL8EZm6n6
— Trader Tardigrade (@TATrader_Alan) June 19, 2025
The short-term setup could trigger a breakout above $0.1725 if the pattern holds. Ascending triangles often occur with increasing volume before breakouts.
A successful hourly breakout might provide momentum for the larger daily triangle pattern. The analyst noted that rising lows indicate strengthening buyer interest.
However, a rejection scenario remains possible where DOGE dips before attempting another breakout. Both scenarios suggest pressure is building for a directional move.
The long/short ratio on major exchanges exceeds 1.90 currently. This indicates most traders are positioning for upward price movement.
More than 75% of Binance traders with open DOGE positions are long. This shows continued bullish sentiment despite recent price weakness.
The Commodity Channel Index signals a “Buy” for DOGE according to TradingView data. However, the Bull Bear Power indicator shows “Sell,” reflecting market balance.
Daily RSI remains in neutral territory, indicating lack of momentum until a confirmed breakout occurs. This supports the view that DOGE is in a consolidation phase.
The $0.16 support level remains critical for bulls to defend. Daily closes below this price could break bullish patterns and trigger further correction.
A breakdown might send DOGE toward the $0.115 level as the next support area. Volume will be key to determining the strength of any directional move.
Dogecoin has retreated from May highs due to ongoing geopolitical tensions affecting broader crypto markets. At current levels, DOGE trades down 2.20% over 24 hours at $0.1682.
