Dogecoin appears to be gathering strength for a major move, with analysts pointing to both historical chart models and recent technical breakouts as signals of an incoming rally.
According to a TradingView post by TradingShot, DOGE has been steadily forming a bullish megaphone pattern since late 2023—an accumulation phase often seen ahead of major price surges in the altcoin space.
The analyst linked this behavior to a century-old market theory known as Jesse Livermore’s “accumulation cylinder,” suggesting that Dogecoin is now entering a breakout stage that could push it significantly higher.
If the pattern holds, Dogecoin may be on track to hit $1.50 by October or November this year. The level would mark a new cycle high, with some longer-term forecasts even hinting at double-digit targets—though those would likely play out over a much longer timeframe.
Meanwhile, another independent analysis from Alpha Crypto Signal points to a breakout above the $0.25 resistance zone as a key trigger. DOGE has completed a rounding bottom formation and is now testing previous resistance as new support. If this level holds, momentum could carry the meme-inspired cryptocurrency toward higher price levels in the coming weeks.
Editorial Team
Reporter at Coindoo
Source: https://coindoo.com/market/dogecoin-prepares-for-next-move-after-bullish-reversal/