Dogecoin (DOGE) is drawing attention from crypto analysts as it hovers around $0.17, with technical signals suggesting a potential major move in the coming weeks. Despite a recent dip in trading activity and a 3% slide over the past week, market watchers are closely monitoring a classic chart formation that could set the stage for significant price action.
Trading Volume Drops, Market Cautious
DOGE’s trading volume has dropped by about 30% this week, signaling that investors are treading carefully. Lower volume often means that even small trades can cause sharp price swings, making the market more sensitive to sudden moves 1.
Symmetrical Triangle Pattern Signals Imminent Move
Technical analysis shows Dogecoin forming a symmetrical triangle pattern since early 2024. This pattern, marked by converging trendlines of lower highs and higher lows, typically precedes a breakout—either up or down. According to analyst Ali, the triangle’s apex is expected by the end of June 2025, suggesting that a decisive move is imminent.
• A daily close above $0.22 could trigger a bullish breakout, with targets around $0.35–$0.36, representing a potential 60% gain from current levels.
• Conversely, a drop below $0.16 may lead to a sell-off toward $0.10, making these levels critical for traders to watch.
Forecasts and Market Catalysts
Some forecasts, such as those from Digital Coin Price, are optimistic, projecting DOGE could surpass $0.37 before year-end and possibly retest its all-time high of $0.74 if broader market sentiment turns positive 3. However, the path forward remains volatile, with price swings likely to mirror movements in major cryptocurrencies like Bitcoin and Ethereum, as well as social media trends and endorsements from high-profile figures.
What to Watch Next
For now, patience is key. Traders are waiting for a clear break above $0.22 or below $0.16, with volume confirmation, before making big moves. Until then, expect choppy, range-bound trading as the symmetrical triangle pattern tightens.
