DOGE Shatters Triangle Formation—Analyst Predicts Sharp Downward Momentum Ahead
DOGE just broke its consolidation pattern—and not in a good way.
Technical Breakdown
The meme coin sliced through the triangle support that had traders cautiously optimistic. Now analysts warn the next leg down could be brutal—we're talking potential double-digit percentage drops.
Market Realities
Remember: in crypto, 'technical analysis' sometimes feels like reading tea leaves during a hurricane. But when patterns break this decisively, even skeptics pay attention.
Bottom line: Dogecoin's ride gets bumpier. As one analyst put it—'When the pattern breaks, the pain begins.' Just another day in the casino… sorry, 'financial innovation' sector.
Breakdown From Triangle Formation
Dogecoin (DOGE) has moved below a symmetrical triangle formation after weeks of sideways action. The MOVE was flagged by market analyst Ali Martinez, who suggested the breakdown could pressure prices lower in the short term.
Dogecoin $DOGE breaks out of a triangle, targets $0.17! pic.twitter.com/5rk1IRxZME
— Ali (@ali_charts) September 2, 2025
The chart points to resistance NEAR $0.22, while immediate supports are located at $0.20 and $0.19. If the bearish move continues, the next target sits at $0.17, a level that matches the 1.272 Fibonacci extension. According to the analyst,
“Dogecoin $DOGE breaks out of a triangle, targets $0.17!”
At the time of writing, Doge was valued at around $0.22 with a 24-hour trading volume of $1.95 billion. The token has gained 1% in the past day, though it has slipped 3% over the week.
Opposing Outlooks From Market Analysts
While one view suggests a move toward $0.17, another long-term chart shared by Bitcoinsensus shows a potential rally. On the weekly timeframe, DOGE continues to track within a logarithmic uptrend channel.
Notably, the chart highlights a +290% surge from $0.08 to $0.23, followed by a +440% rise to $0.50. Based on this pattern, the next impulsive wave could lift prices between $1.00 and $1.40. The post noted,
“This next wave could potentially lead to prices as high as $1.40.”
DOGE is consolidating near $0.217 and has been forming higher lows that keep the long-term channel intact. Analysts view this as the base for a larger move, though short-term signals remain mixed.
Whale Activity and Futures Market
On-chain observations show whales are currently inactive. As Martinez stated,
“Dogecoin $DOGE whales are staying on the sidelines. No major buying or selling pressure detected!”
Data from Coinglass adds further detail. Open interest in DOGE futures ROSE slightly by 1% to $3.32 billion, suggesting steady trader participation. At the same time, daily trading volume fell 14% to $5.05 billion, showing lighter participation.
Options activity has surged, with volume climbing 1,057% to $1.86K, while open interest increased 132% to $2.76M. These shifts suggest traders are positioning for the next move as DOGE stabilizes near support.
