Dogecoin’s Bullish Signal Returns: This Pattern Has Triggered Every Major Price Rally

Dogecoin traders, brace yourselves—history might be repeating itself.

The meme coin's chart is flashing a familiar technical formation that's preceded every explosive DOGE breakout since 2021. And according to top analysts, the setup looks eerily similar to previous moonshots.

The Pattern That Pays

When DOGE's 30-day moving average crosses above its 200-day with volume support, things get interesting. The last three occurrences saw gains of 300%, 650%, and that glorious 12,000% Elon-fueled frenzy in 2021.

But Here's the Catch

While the pattern's track record is impressive, skeptics note Dogecoin's fundamentals haven't changed—it's still a joke currency running on billionaire tweets and Reddit memes. Then again, since when has that stopped crypto markets?

Will this time be different? Probably not. The charts say 'buy,' but your financial advisor would have an aneurysm. Place your bets.

Dogecoin Parallel ChannelDogecoin Parallel Channel Citing the historically bullish nature of this price formation, he predicted that Dogecoin could rally extensively from here to two targets. First, he suggests a retest of the lower resistance at $0.20, an area that DOGE has seen multiple rejections this year. For perspective, DOGE faced a massive supply wall around the $0.2 region on March 26, from where it retraced to April’s low of $0.129. The resistance level also prevented further upside on April 26 and most recently on June 11. If DOGE successfully reclaims the $0.20 price mark, it will target the $0.25 resistance. Dogecoin faced a dual rejection from the area in May, an indication of its concentrated supply pressure. Notably, how Dogecoin reacts to this level will determine its near-term trend. Based on the current price, DOGE would need to rally by 9.5% and 36% to reach $0.2 and $0.25, respectively. Interestingly, Martinez also highlighted that a buying spike would catalyze the possible rally. Aligning Dogecoin price Expectations Martinez’s price outlook aligns with Tom Tucker, who highlighted Dogecoin’s path to $0.25 in a recent analysis. Tucker identified a double bottom price formation on the daily chart, a pattern that typically signals the end of a bearish trend and an impending bullish reversal. Several other analyses hint at this price target, with an analysis from The Crypto Basic recently citing a bullish divergence and growing open interest as major catalysts. Nonetheless, there are far higher targets for DOGE this cycle. For instance, some suggest a rally to $0.46, $1.4, and $4, highlighting Dogecoin’s recurring pattern from previous cycles. A notable analyst, CryptoELITES, insisted that $5 is the threshold for DOGE, and those who do not expect it know nothing. Nonetheless, Martinez earlier highlighted key resistance levels to watch using the UTXO Realized Price Distribution chart. Specifically, some of the levels include $0.18, $0.21, and $0.36 DOGE trades at $0.182 at the time of writing.