Break Above This Level Could Send Dogecoin Soaring

Dogecoin (DOGE) has experienced notable price movements over the past 24 hours. Starting the period around $0.21, the cryptocurrency surged to approximately $0.22 before retracing slightly. Currently trading at $0.22, the memecoin has seen a modest increase of 4.6%. 

Amid these fluctuations, analysts are eyeing the next potential movements for Dogecoin, with some anticipating an imminent breakout that could lead to significant upward momentum.

Symmetrical Triangle Patterns and Breakout Predictions

Ali Martinez, a well-known crypto analyst, has highlighted a symmetrical triangle pattern for the altcoin on a 4-hour chart against Tether (USDT). This chart, which spans from early to late August, shows Dogecoin consolidating within two converging trendlines: one acting as upward-sloping support and the other as downward-sloping trendline. The triangle formation suggests a phase of price consolidation, with the potential for a massive surge.

Source: X

Martinez notes that a breakout above the $0.23 resistance level could trigger strong bullish momentum. He has also incorporated Fibonacci retracement levels to pinpoint key support and resistance zones. The 0.382 level at $0.22170 and the 0.5 level at $0.23217 are particularly relevant. In case of a pullback, these levels may provide support. Notably, the 0.618 level at $0.24314 represents a potential resistance area.

As of the latest update on August 26, 2025, Dogecoin is trading near the 0.382 Fibonacci level, indicating it could experience a minor pullback before moving higher. Martinez's analysis suggests that breaking the $0.23 resistance could lead to price targets of $0.25, $0.26, or even $0.30. These levels are derived from Fibonacci extensions and represent possible zones where the altcoin may encounter significant bullish momentum.

Trader Tardigrade’s Analysis: Wave E Complete

Meanwhile, Trader Tardigrade's analysis of Dogecoin's price movements also points to the completion of Wave E, the final phase of the symmetrical triangle. The chart clearly shows the progression of the price through five waves: A, B, C, D, and E, with each wave further subdivided into smaller sub-waves. According to Tardigrade, the completion of Wave E indicates the end of the consolidation phase.

Source: X

As the price recently rebounded off the lower support trendline, Tardigrade suggests that the memecoin is now on the verge of breaking through the upper resistance line of the triangle. This breakout could mark the resumption of the previous bullish momentum, potentially sending Dogecoin to new price levels. 

According to the analysis, the price targets after a breakout could range between $0.26 and $0.28, with a possibility of reaching as high as $0.37 or even higher.