Dogecoin eyes $0.22 breakout amid analysts’ bullish targets

Dogecoin (CRYPTO:DOGE) has gained over 17% in four days, nearing a critical technical threshold that analysts say could trigger a significant price surge.

Rekt Capital highlighted a weekly chart showing pivotal levels at $0.159, $0.204, and $0.22.

The latter acts as a “green zone” of pre-halving highs, with a weekly close above it signaling renewed bullish momentum.

Recent volatility near $0.20–$0.22, marked by long wicks, suggests a “very volatile retest” of March highs.

A sustained close above $0.22 could propel DOGE toward resistance zones at $0.28 and $0.338.

Henry (@LordOfAlts) identified a multi-month falling wedge pattern spanning late 2024 to Q1 2025, mirroring a similar structure that preceded a 365% rally in October 2024.

The wedge’s upper trendline connects lower highs since DOGE’s $0.48 peak, while the lower boundary traces descending lows.

“Last time it did a similar thing was in Sep 24. 50¢ next, then $1.00,” Henry noted, as a recent breakout from this pattern sparked optimism.

While neither analyst guarantees specific targets, both emphasise the importance of $0.22 as a psychological and technical hurdle.

Rekt Capital warns that failure to hold this level could prolong consolidation, while Henry urges traders to “Trust the cycle” amid cyclical patterns.

Dogecoin’s price action reflects broader market sentiment, with analysts parsing historical patterns for clues.

The coin’s volatility near key levels underscores its sensitivity to technical indicators, though macroeconomic factors and adoption trends remain critical variables.

The technical setup aligns with Dogecoin’s historical tendency to rally during bullish crypto cycles, though regulatory developments and market sentiment could influence outcomes.

For now, traders await confirmation of the $0.22 breakout as a potential catalyst for upward momentum.

At the time of reporting, the Dogecoin (DOGE) price was $0.1968.