Key Insights
- •Dogecoin price needs to overcome a significant sell wall around $0.50 to potentially reach $1.399.
- •The meme coin experienced considerable selling pressure this week, declining by 7% over the past seven days.
- •On the 3-week chart, DOGE has been consolidating within a large triangle pattern since its peak in 2021. The upper trendline has consistently capped rallies, while the rising bottom trendline has provided support during major dips.
- •The initial price target is projected to be between $0.72 and $0.88, a range aligning with the measured move and the highs observed in 2021.
Dogecoin price faced intense selling pressure this week after sliding 7% over the last seven days. At the moment, DOGE is trading just above $0.13 after a sharp 24-hour pullback of roughly 5%.
Even so, market watchers say the larger setup is still intact. Their latest analysis points to a key level at $0.50.
They argue that Dogecoin needs a decisive break above that zone to open the path toward the $1.88 target.
DOGE Price Must Break Above $0.50 To Reach $1.88
Dogecoin (DOGE) price is still holding a strong long-term structure. On the 3-week chart, the price has been moving inside a large triangle since the 2021 peak.
The top trendline has capped every rally, while the rising bottom trendline has supported every major dip. DOGE is now sitting right on this support again.
As Altcoin Piooneers pointed out, this also lines up with a clear multi-year Cup and Handle pattern. The cup is complete.
The handle has been forming through mild pullbacks. The recent drop this week does not change the bigger picture. The chart still shows calm consolidation, lower volume, and a reset in momentum.
The RSI on the higher timeframes is back at 50, the same level seen before the strong 2021 rally. The MACD is also close to turning bullish on both the weekly and monthly charts. That often marks the start of a new trend.
The neckline to watch is still $0.48–$0.50. This level has been tested several times. A breakout above it would confirm the Cup and Handle with DOGE potentially rallying to $1.88.
If the breakout holds, the next targets are easy to follow. The first target sits between $0.72 and $0.88, a range that lines up with the measured move and the highs from 2021.
From there, the chart suggests a mid-cycle move toward $1.80 to $2.20. And if momentum truly takes off, the long-term structure leaves room for a full mania phase that could stretch into the $4 to $6+ range.
Dogecoin Poised for Bullish Move Amid Inverse Head & Shoulders Forming
A top trader, TAtrader Alan noted that Dogecoin could be preparing for a bullish move. His 4-hour chart shows an inverted head and shoulders pattern, which traders usually see as a sign of a possible reversal. It hints that momentum may soon shift to the upside.
This shape gives the setup its strength. Market watchers note that Dogecoin now needs to break above the main resistance level.
A clean move through that point often leads to a stronger rally. For now, the price is steady.
If DOGE pushes past that barrier, the chart suggests a meaningful upside move could follow.
Argentina Approves Paying Taxes with Dogecoin
Adoption is also picking up in the real world. In Argentina, officials have opened the door for citizens to pay certain taxes in DOGE.
Meanwhile, Alternative Airlines now accepts the token for flight bookings. Observers say these steps mark steady progress in Dogecoin’s push toward broader, everyday use.