Dogecoin is currently trading below $0.23 with a 4% decline over the past 24 hours. The meme coin has remained flat on the weekly chart despite recent volatility.
The price action shows DOGE forming a symmetrical triangle pattern on the 4-hour timeframe. This technical setup features a falling upper trendline connecting swing highs and a rising lower trendline along swing lows.
Trading volume has reached over $3 billion during this period. The volume levels remain average without confirmation of a clear directional move yet.
Crypto analyst Ali Martinez identified this triangle formation and expects a potential breakout. He suggests the price could rally toward $0.30, representing about 30% upside from current levels.
Dogecoin $DOGE: One last dip before the breakout! pic.twitter.com/DQh70ilOas
— Ali (@ali_charts) August 25, 2025
The analyst notes there may be “one last dip before the breakout” as price approaches the triangle’s lower boundary. Support is marked at $0.22 while resistance sits near $0.24.
Martinez calculates the price target by adding the triangle’s base width to the breakout point. This method suggests a move toward $0.31 if the pattern confirms upward.
However, a close below $0.22 support could invalidate the setup. This scenario would bring $0.209 and $0.19 into focus as downside targets.
Chart analyst Umair points to $0.25 as a critical resistance zone. He states that “recovering this will lead to 31c” but warns failure could push DOGE back to $0.21 or $0.1949.
$Doge
Doge at resistance almost, where it got significant rejections from previously.
recovering this will lead to 31c, and if not then simply retraces back to 21c support.The resistances have been pretty 'resistive' and supports have been pretty 'supporty' for #Doge to be… pic.twitter.com/aVc08NxQDB
— Umair Crypto (@Umairorkz) August 24, 2025
The $0.25 level has acted as resistance multiple times in recent months. A move above this zone could lead to $0.26, $0.28, and $0.31 based on extension calculations.
Technical indicators show the Relative Strength Index near 57. This reflects steady momentum without extreme buying pressure in either direction.
Trader Tardigrade examined the daily chart through Elliott Wave Theory. They identified what appears to be a five-part correction pattern labeled A through E.
$Doge/daily <Elliott Wave Pattern>#Dogecoin has been forming a Symmetrical Triangle Correction Pattern on the daily chart. This is a type of horizontal triangle consisting of five sub-waves that create a 3-3-3-3-3 structure, labeled as A-B-C-D-E.
This pattern reflects a… pic.twitter.com/nN394gnXjI
— Trader Tardigrade (@TATrader_Alan) August 24, 2025
According to this interpretation, “a motive wave in uptrend will follow this correction pattern.” This aligns with previous market cycles where corrections precede trend continuation.
The correction pattern appears to be approaching its end phase. Traders are monitoring for confirmation on direction as the price narrows within the structure.
MarketProphit reports mixed sentiment around DOGE currently. While general trader sentiment shows optimism, their proprietary model remains cautious.
The Federal Reserve has softened its stance on crypto banking regulations. This development may contribute to increased market attention.
Thumzup recently acquired Dogehash in a $50 million deal. The company stated this creates the largest Dogecoin mining operation to date.
The symmetrical triangle pattern requires confirmation through at least two candlestick closes above the upper boundary. This would validate the bullish breakout scenario that analysts are tracking.
The post Dogecoin (DOGE) Price: One Last Dip Before Major Move Higher? appeared first on CoinCentral.
