Dogecoin Poised for Breakout As Triangle Pattern Hints At 50% Rally

Dogecoin forms an ascending triangle, targeting a potential 50% rally if $0.25 breaks.

Trading volume and MACD momentum support a bullish breakout scenario.

Profit-taking pressure and exchange inflows create mixed short-term signals.

Dogecoin — DOGE, has been waking from a long slumber. The meme coin climbed about 20% in the past week after months of quiet trading. This surge follows a modest 7.6% gain over the last three months. The price now circles $0.235, brushing against levels that could unlock the next big move. Traders are reading the charts closely, sensing the market’s heartbeat quicken. Signals from both technical patterns and on-chain metrics point to an intriguing crossroads.

Triangle Pattern Builds Pressure

An ascending triangle has appeared on the daily chart like a storm cloud on the horizon. The pattern shows rising lows pressing against the same ceiling at $0.25. A daily close above that mark with strong volume could light the fuse for a sharp rally. If momentum holds, potential targets sit at $0.28 and $0.36. The higher mark would equal a gain of nearly 50% from current levels.Trading volume has been swelling as the price moves toward the breakout zone. This growing participation acts like wind filling the sails.

The MACD indicator has crossed into positive territory for the first time in weeks, tilting the short-term momentum toward buyers. Exchange data adds more intrigue. On August 10, spot netflow was negative $52 million, but the next day saw a $2.7 million positive shift. This swing suggests more DOGE is heading to exchanges, often a sign that traders are positioning for action. Meanwhile, 84% of addresses holding DOGE are in profit, matching levels last seen before a swift pullback in July.

Resistance, Risk, and Opportunity

The most stubborn barrier stands at $0.29, a level that has rejected DOGE three times this year. Clearing that wall would validate the bullish triangle breakout and open the road toward $0.36. Fractal analysis places current prices within a historical buy zone, a place where past cycles have ignited major rallies. Yet, the market is never a one-way street.

The Spent Output Profit Ratio recently hit 1.045, showing many holders are selling for profit. This mirrors late July, when a similar setup preceded a price drop. Combined with rising exchange inflows, this creates a mix of excitement and caution. Shorter timeframes reveal a descending triangle, adding to the complexity. Fibonacci levels act as support within that pattern and align with the $0.23 safety net.

DOGE’s current structure resembles a coiled spring. Months of consolidation have stored potential energy, ready to unleash once resistance crumbles. The rising volume reflects growing conviction, while the triangle pattern offers a roadmap for the next move. For traders, the path forward hinges on $0.25 and $0.29.