š Dogecoin Primed for 3x Surge? Analyst Spots Critical Technical Breakout ā Is DOGEās Moon Mission Back On?
Dogecoin just flashed its most bullish signal since the 2021 meme frenzy. A technical breakout on the weekly chart suggests DOGE could be gearing up for a 200% rallyāproving once again that crypto markets run on equal parts math and memes.
The Setup:
DOGE breached a 2-year descending trendline with conviction, mirroring the pattern that preceded its last parabolic run. Volume spiked 300% during the breakoutāa classic 'confirmation candle' thatās got traders dusting off their Lambo blueprints.
Why This Matters:
The same technical formation preceded Dogecoinās 12,000% explosion in 2021. While nobody expects a repeat (except maybe the Elon stans), the 3x target aligns with untouched resistance levels from the 2023 cycle.
Reality Check:
This is Dogecoin weāre talking aboutāa coin that once rallied because a billionaire tweeted a dog wearing a hat. But with perpetual contracts funding rates still neutral, even cynical traders admit the risk/reward looks⦠suspiciously attractive.
Will DOGE actually 3x? In this market, stranger things have happenedāusually right after Wall Street finishes calling crypto 'dead.'
Analyst Points Bullish Reversal: Is This the Start of a New Uptrend?
Popular pseudonymous crypto analyst Trader Tardigrade noted the early onset of a bullish reversal structure in a June 1 X post, citing a breakout above a critical 50-day descending trendline.
Tardigrade notes that dogecoin price has now formed a higher low, higher high, higher low sequence in its move above the long-standing trendlineāthe beginnings of a classic reversal structure.
If this structure of successive higher highs and higher lows continues, it could signal that a new uptrend is forming, with buyers gradually regaining control of the market.
This comes as speculative interest is building with traders actively following Dogecoin price moves. CoinGlass data shows a 24.7% rise in Open Interest since the month began.
These Derivative traders appear to be positioning for a continuation, with a long/short ratio of 2.92 on Binance showing that over 74.5% of its users are betting on price increases.
Dogecoin Price Analysis: Is This the Start of a 3x Move?
The development highlighted by Trader Tardigrade on the daily chart feeds into the broader breakout setup of a massive 4-year cup-and-handle pattern.
This emerging uptrend aligns with historical support stretching back to Mid-2024, creating a potential confluence zone for a breakout as it meets the upper resistance of the handle.
If the reversal sequence holds, the historical support could be a breakout launchpad for the patternās $0.75 technical targetāa 3.45x gain from current levels.
Momentum indicators support this outlook. The RSI continues trending higher, holding above 40, signaling that sellers are gradually losing control.
More so, the MACD line is approaching a bullish cross above the signal line for the first time since early June. On the 3-day timeframe, this often signals the early stages of a new mid-term uptrend.
However, for this 3.45x MOVE to fully materialize by the end of the year, a market-warming social or fundamental catalyst like the October 17 U.S. spot DOGE ETF decision deadline will likely play a key part.
Here are mine and @EricBalchunas' most recent odds on spot crypto ETF approvals by the end of 2025. We expect a wave of new ETFs in this second half of 2025. pic.twitter.com/H3pxJhqMy3
ā James Seyffart (@JSeyff) June 30, 2025Immediate resistance at $0.186 remains the key threshold for a decisive breakout. A rejection here risks confirming a false breakout, putting pressure on the historical support.
If this level is lost, the next major support level lies 45% lower at the mid-2024 market bottom around $0.09.
Bitcoin Could be the Bigger Play ā With Some Help
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