Dogecoin’s Next Move: Double-Digit Rally Looms From This Critical Fibonacci Level

Dogecoin teeters on the edge of a major breakout—and Fibonacci traders are watching one key level.

The meme coin that defied all conventional wisdom now faces its ultimate technical test. Market patterns suggest we're about to witness either a spectacular rally or another classic crypto reality check.

Fibonacci's magic number

That critical 61.8% retracement level isn't just another line on the chart. It's the make-or-break point where DOGE either launches toward double-digit gains or confirms this is just another 'to the moon' fantasy. Technical analysts are glued to their screens, watching for that decisive break above resistance.

Market momentum building

Trading volume patterns hint at growing institutional interest—or maybe just another round of retail FOMO. Either way, the setup looks suspiciously like those pre-pump formations we've seen before major moves. The question isn't whether DOGE can move, but whether it can sustain whatever move comes next.

Because in crypto, even the jokes eventually get serious—until they don't. Just ask anyone who bought the last 'sure thing' at the top.

The Current State Of Dogecoin

Crypto analyst MadWhale outlined some notable developments surrounding the dogecoin price and what could trigger the next wave of price action. Besides the Fed rate cuts not doing anything for the crypto market, there is also the expectation of multiple altcoin ETFs that could trigger the next rally.

Recently, excitement around a possible Dogecoin ETF going live for trading has been on the rise after experts had projected a possible acceptance by the SEC last week. The decision was ultimately postponed by the regulator, but this has done nothing to dampen the excitement.

The REX-Osprey dogecoin ETF (DOJE) is still expected to go live sometime this month if the SEC gives its blessing, and the analyst explains that this could be what drives another rally. In fact, there have been expectations that the Dogecoin price could rise by up to 75%, and others have predicted that the price could double.

In addition to the ETF excitement, the fact that Dogecoin whales are making their way back into the arena is exciting. With around $266 million worth of Doge bought and withdrawn from exchanges, exchange liquidity has declined, pushing the supply down to help boost demand and trigger a possible price increase.

Why The Dogecoin Price Could Surge

Besides the bullish developments surrounding the Dogecoin price with the ETF filings and whale buying, there is also the technical side that points to bullishness. This is because the Dogecoin price is currently sitting close to a critical Fibonacci level. If the Dogecoin price continues to maintain both its daily support and weekly trendline above $0.24, then the analyst expects an 18% increase in price, to push it toward $0.315.

Other bullish developments include the Grayscale filing with the SEC to convert its Dogecoin Trust into a full-blown ETF. The filing lists Coinbase as custodian, sticking to an established pattern with Grayscale’s crypto ETFs, and could be a rival to the highly anticipated REX-Osprey Dogecoin ETF.