Dogecoin’s Bullish ’Triangle Pattern’ Emerges as DOGE Bounces from Higher Low—Next Leg Up?
Dogecoin traders are eyeing a classic technical setup as the memecoin carves out a higher low after its latest pullback. The so-called 'triangle pattern' could signal another explosive move—if history repeats itself.
Here's why DOGE bulls aren't laughing just yet.
The Anatomy of a Dogecoin Breakout
Symmetrical triangles form when lower highs meet higher lows—a tightening coil of indecision that typically snaps violently in one direction. For DOGE, this consolidation comes after a 30% retreat from its July highs, with the token now finding support above its June swing low.
Memecoins Move Fast
Unlike their blue-chip cousins, dog-themed tokens don't bother with fundamentals. When the pattern completes, the move tends to be swift—whether up or down. Retail traders are already positioning for a potential 50% surge toward $0.18, though skeptics note the entire sector remains one Elon tweet away from disaster.
As one veteran trader quipped: 'Technical analysis works until a billionaire posts a meme.'
News Background
- The cryptocurrency market is navigating a tense macro backdrop as escalating trade disputes and shifting central bank policies weigh on risk assets.
- The temporary extension of the U.S. “Liberation Day” tariff pause to August 1 has offered some relief, while major banks now anticipate Federal Reserve rate cuts between 0.25% and 1% starting as early as July.
- Meanwhile, Elon Musk’s surprise announcement of The American Party —a political platform rumored to incorporate blockchain-powered finance —has reignited interest in Dogecoin, particularly among large holders.
- Whale accumulation of DOGE is up 112% over the past week, even as retail interest declines.
- Analysts believe the asset is coiling within a multi-year cup-and-handle pattern that, if confirmed, could target levels as high as $0.75.
- For now, DOGE remains pinned beneath resistance but is showing early signs of bullish reaccumulation at key support.
Technical Analysis
- From 7 July 05:00 to 8 July 04:00, DOGE fell from $0.174 to a low of $0.166, marking a 4.6% decline over the 24-hour period.
- Strong volume-supported support emerged between $0.166–$0.167 during the 13:00 and 16:00 hours on 7 July.
- Price stabilized and modestly recovered to $0.168 in the final hours, with decreasing volatility signaling potential trend exhaustion.
- Between 8 July 03:38 and 04:37, DOGE exhibited a strong hourly recovery from $0.1672 to $0.1680, with a key breakout at 04:29–04:31 supported by 4.1M volume.
- A higher low formed at $0.1679, suggesting a potential shift in momentum and a foundation for short-term bullish continuation.
