Dogecoin is gaining renewed attention as several technical analysts point to a long-forming Elliott Wave structure that may be entering its final upward phase.
While chart-based projections remain speculative, recent price action, historical patterns, and accumulation behavior place Dogecoin at a technically significant juncture.
A widely circulated TradingView analysis by independent market technician Michael K., who has published Elliott Wave market reviews since 2017, maps a potential five-wave impulse pattern beginning in 2014. Based on this model, Dogecoin may now be progressing into Wave 5—typically considered the final expansion leg in classical Elliott Wave theory.
In this scenario, an upper-range target near $1.76 represents one possible extension, though analysts emphasize that such projections depend on sustained trend continuation, adequate volume, and broader market participation.
Understanding the Ascending Triangle Setup
Dogecoin’s current structure shows an ascending triangle forming across multiple timeframes. The pattern, characterized by rising higher lows and relatively stable resistance near $0.23, is often monitored by traders as a signal of contracting volatility before a potential breakout.
As of writing, DOGE trades near $0.18, maintaining contact with its rising support line. In prior cycles—notably earlier this year—DOGE rebounded from a comparable zone before entering a month-long rally of approximately 65%. While past behavior does not guarantee future outcomes, traders note that similar structural conditions have preceded expansion phases.
Dogecoin continues to follow a strong five-wave structural pattern, with analysts noting that its cycle targets above $1 remain intact despite potential short-term distribution. Source: @XForceGlobal via X
Korean Certified Elliott Wave Analyst @XForceGlobal, who frequently publishes audited forecasting records and market reviews, described this formation as “a structurally consistent continuation of Dogecoin’s multi-year trend.” His assessment highlights that DOGE’s long-term structure still aligns with previous market cycles, though he cautions that triangle formations can be invalidated quickly if support breaks.
Some community traders echo this view, but analysts generally agree that a confirmed breakout requires both a close above $0.23 and a measurable increase in trading volume.
Do Elliott Waves Work in Crypto? A Look at the Evidence
Academic research provides mixed but relevant context. A 2018 study published in the Journal of Technical Analysis reviewed several pattern-based trading methodologies — including Elliott Wave classification — and found success ratios in the 60–70% range in markets exhibiting strong directional trends.
Dogecoin is retesting a key support level that previously triggered a strong 34-day rally, highlighting its potential for another significant upside move. Source: VIPCryptoVault on Tradingview
However, the authors also noted substantial subjectivity in wave counting and emphasized that accuracy varies widely between practitioners and market conditions. This aligns with the view of many professional traders, who typically use Elliott Waves as a structural guide rather than a standalone forecasting tool.
Price Outlook: What a Path Toward $1 Would Require
Reaching $1 remains a widely discussed milestone in the Dogecoin community, but analysts emphasize that several technical steps must occur first:
Bullish Continuation Criteria
Clear breakout and sustained daily close above $0.23
Volume expansion confirming buyer participation
Break of local resistance near $0.29
Stronger macro sentiment, typically led by Bitcoin stability or growth
Only after these conditions are met would the higher-range Elliott Wave projections—including the theoretical $1.00–$1.76 zone—become more technically reasonable.
Key Risks and Invalidation Points
A close below $0.18 could weaken the triangle pattern
A breakdown of the long-term rising trendline would invalidate the Elliott Wave count
Market-wide volatility, regulatory updates, or liquidity shifts could disrupt technical expectations
Elliott Wave counts are subjective and can change with new data
Professional traders typically stress that no pattern guarantees outcomes; instead, each offers a probabilistic framework.
Final Thoughts
Dogecoin sits at the intersection of technical structure, speculative narratives, and improving accumulation trends. While the long-term Elliott Wave model provides a possible roadmap toward upper-range targets, analysts underscore that these projections remain conditional and require clear confirmation.
Dogecoin was trading at around $0.16, down 1.59% in the last 24 hours. Source: Brave New Coin
If DOGE maintains its support structure and secures a breakout above $0.23, the market may revisit mid-range targets near $0.29 before attempting a broader continuation. Conversely, failure to hold key supports could trigger renewed consolidation and delay any larger trend progression.
For now, Dogecoin’s trajectory will depend on how price action interacts with its long-standing resistance levels, overall market sentiment, and trader participation over the coming weeks.