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Dogecoin Prepares To Explode — Analysts Say Watch This Price
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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Dogecoin Prepares To Explode — Analysts Say Watch This Price

Jake Simmons
Jake Simmons
2 months ago
2 mins read
Dogecoin price news

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Over the past four days, the Dogecoin price is up more than 17% and is thus nearing bullish territory according to two renowned chart technicians. Rekt Capital (@rektcapital) and Henry (@LordOfAlts), are pointing to what they believe is a major technical setup on the Dogecoin (DOGE) price chart—potentially heralding a sizable breakout.

This Price Level Is Crucial For Dogecoin

Early today, Rekt Capital shared a weekly DOGE/USDT chart highlighting key price levels at $0.159, $0.204, and most critically $0.22. According to the analyst, Dogecoin’s trajectory now hinges on whether it can “reclaim and/or Weekly Close above $0.22”—a level he refers to as a green zone of Pre-Halving highs on his chart.

Dogecoin price analysis
Dogecoin price analysis, 1-week chart | Source: X @rektcapital

Rekt Capital suggests that the recent dip below $0.22 could represent a mere “downside deviation,” meaning any breach under that threshold might have been temporary if price action stabilizes above $0.22 in the near future. The candlesticks near $0.20 and $0.22 exhibit notable wicks, indicative of high volatility. Rekt Capital interprets these as part of a “very volatile retest” of the price region around March highs.

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From a technical standpoint, the $0.22 area seems to act as a pivot. Should Dogecoin close a weekly candle above that boundary, it would increase the likelihood that buyers are regaining control, potentially setting the stage for a move toward higher resistance levels—such as the $0.28 and $0.338 region, identified by two horizontal green lines on Rekt Capital’s chart.

DOGE Breakout Already Confirmed?

Meanwhile, analyst Henry (@LordOfAlts) points to a multi-month falling wedge formation stretching from late 2024 through the first quarter of 2025. Henry notes that this pattern bears resemblance to Dogecoin’s descending wedge in 2024, which eventually led to a breakout and a significant price surge.

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On Henry’s chart, DOGE had been consolidating between two downward-sloping trendlines for several months. The upper trendline connects lower highs since the coin’s peak above $0.48, while the lower boundary captures a sequence of descending lows.

Dogecoin technical analysis
Dogecoin falling wedge pattern, 1-day chart | Source: X @LordOfAlts

Henry’s analysis draws a parallel between the current wedge and a similar structure that resolved in a 365% surge which started in October 2024. Over the past few days, Dogecoin broke out of the falling wedge pattern again, possibly setting the stage for another steep rise.

Although Henry does not guarantee specific targets, he remarks that last time “Last time it did a similar thing was in Sep 24. 50¢ next, then $1.00,” concluding with a succinct instruction to “Trust the cycle.”

At press time, DOGE traded at $0.19583.

Dogecoin price
DOGE bounces upwards, 1-day chart | Source: DOGEUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com
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Jake Simmons
Jake Simmons

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

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His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

You can engage with his latest takes on Twitter: @realJakeSimmons.

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Reason to trust

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