- Dogecoin is approaching a decisive breakout, with analyst Ali Martinez predicting a potential 60% price move based on a symmetrical triangle pattern.
- Traders are closely watching the $0.16 to $0.22 range, as a daily close outside this band could signal the next major trend direction.
Dogecoin (DOGE), the internet’s favorite memecoin, could be on the verge of a massive 60% price swing, according to renowned crypto analyst Ali Martinez. Sharing a symmetrical triangle chart on June 19, Martinez pointed out that DOGE is tightening within a wedge pattern that often precedes sharp market moves.
Currently trading at $0.1701, Dogecoin has suffered a 10.41% drop over the past week and a steep 23.52% slide in the last month. Despite this decline, the chart shows DOGE compressing between descending resistance and rising support — a classic symmetrical triangle pattern that signals an imminent breakout, though it doesn’t predict direction.
DOGE’s Big Decision: Breakout or Breakdown?
Martinez emphasized the importance of the $0.16 to $0.22 range, stating, “Dogecoin looks prime for a 60% price move. All you need to do is wait for a daily close outside of the $0.16 to $0.22 range to determine the direction of the trend.”
A bullish breakout above $0.22 could launch Dogecoin toward the $0.35–$0.38 region, representing a potential 60% rally. On the flip side, a close below $0.16 could trigger a downturn toward $0.13 or even lower.
Traders Show Caution as Volume Dips
As excitement builds around this potential move, trading activity tells a different story. Dogecoin’s 24-hour volume has dipped 11.34% to $919.85 million, hinting at investor hesitation and a “wait-and-see” approach. This lull could simply be the calm before the storm, especially considering DOGE’s history of dramatic surges following similar chart setups.
Whether Dogecoin is set to bark louder with a breakout or retreat into a bearish bite depends entirely on how price behaves in the coming days. One thing’s clear — traders are watching the $0.16–$0.22 zone like hawks.
