- Dogecoin is approaching the apex of a symmetrical triangle pattern, with analysts predicting a potential 60% price move if it breaks out of the $0.16–$0.22 range.
- Historical patterns and a surge in network activity suggest a bullish breakout could be on the horizon.
Symmetrical Triangle Sparks Breakout Buzz
Dogecoin (DOGE) is once again in the spotlight as analysts point to a decisive price movement that could be just days away. Trading at $0.1676 after a 1.90% dip in the last 24 hours and 3.74% over the week, DOGE may be on the verge of a breakout from a symmetrical triangle that has shaped its price action since December 2024.
According to top analyst Ali Martinez, this pattern—formed by converging support and resistance lines—is approaching its apex. If DOGE closes decisively outside the $0.16 to $0.22 range, a sharp move of up to 60% could follow. An upward breakout could lift prices to around $0.269, while a bearish breakdown might see DOGE plunge to near $0.0672.
Past Patterns Signal Explosive Potential
Historical analysis by Crypto Elites lends further weight to the bullish narrative. In 2016, 2021, and again in 2024, Dogecoin followed a near-identical triangle formation that led to massive rallies. For instance, a breakout in early 2021 took DOGE from fractions of a cent to its all-time high of $0.73.
The most recent triangle, which began forming in mid-2022, culminated in a breakout early this year that saw prices surge to $0.48 before retracing. Given this track record, Crypto Elites speculates that another explosive run could be underway—potentially pushing Dogecoin toward the elusive $5 mark.
Network Activity Adds Fuel to the Fire
On-chain data from IntoTheBlock paints a picture of growing investor interest. New DOGE wallet addresses have surged by 102.4%, while Active Addresses have jumped 111.3% in just one week. These metrics signal a sharp increase in user participation and transactional activity—often a precursor to significant market moves.
As the symmetrical triangle pattern tightens, the crypto world is watching closely. Whether Dogecoin explodes upward or crashes downward, one thing is clear: a major move is imminent.
