DOGE Primed for Rally: Analyst Predicts Breakout to $0.50 as Bullish Pattern Emerges

Cryptocurrency analyst Marco Polo has identified a compelling bullish pattern in Dogecoin’s price action, suggesting a potential surge to $0.50. This prediction comes as Doge breaks out from a long-term falling wedge formation—a classic technical indicator—with the trendline holding strong for over a year. Currently trading at $0.22 USDT, Dogecoin’s consistent formation of higher lows since June 2023 reinforces the bullish structure, indicating growing momentum for the meme coin. The clean diagonal breakout and subsequent retest of key levels suggest this could be the beginning of a significant upward move for DOGE.

Dogecoin Price Poised for Breakout to $0.5, Analyst Says

Cryptocurrency analyst Marco Polo has identified a bullish pattern in Dogecoin’s price action, suggesting a potential rally to $0.50. The meme coin has broken out from a falling wedge formation—a classic technical indicator—with the trendline holding strong for over a year.

Since June 2023, Dogecoin has consistently formed higher lows, reinforcing the bullish structure. The chart shows a clean diagonal breakout, with a retest of the wedge expected before the next upward leg. "The setup is textbook," Marco Polo noted in an X post, emphasizing the coin’s resilience and technical strength.

Dogecoin Analyst Predicts 174% Surge to $0.65 Amid Market Volatility

Dogecoin’s recent price action has been a rollercoaster, slipping from $0.25 to $0.21 this week after a strong rally. A fleeting bounce above $0.23 in mid-May proved unsustainable, leaving DOGE hovering NEAR $0.21—a 10% weekly decline. Yet beneath the surface volatility, long-term technicals hint at brewing upside potential.

Analyst Javon Marks points to a critical trendline break in late 2023 as the catalyst for Dogecoin’s current setup. This level had constrained price action since DOGE’s all-time high near $0.70. The subsequent formation of higher highs and lows, coupled with a firm hold above $0.15, suggests accumulation. Marks maintains a $0.65 price target, implying 200% upside from current levels, with stretch goals at $0.74 and $1.25.

The meme coin’s ability to sustain above its recent low could validate the bullish thesis. Traders are now watching for confirmation of renewed momentum as DOGE tests key support. "This isn’t just a dead-cat bounce," Marks’ analysis implies, "but the early stages of a structural trend reversal."

Dogecoin Price Struggles Amid Low Trading Volume

Dogecoin’s price action remains subdued as trading volume continues to trend downward. The meme coin has failed to retest its all-time high, with bulls struggling to maintain key support levels amid persistent sell-offs.

Derivatives data reveals a cautious market sentiment, particularly toward speculative assets like DOGE. Historical volume patterns suggest the current lull may precede significant price movement, though direction remains uncertain.