Dogecoin Breaks Key Trendline as Pattern Repeats 2024 Setup Toward $0.50

DOGE has broken a key descending trendline, potentially mirroring its 2024 rally setup, which preceded a surge from $0.10 to $0.48. The price is currently holding above the $0.23 pivot point, bolstered by whale accumulation and robust trading volume, suggesting strong bullish momentum. Technical indicators indicate further upside potential towards the $0.27–$0.29 range, contingent upon clearing resistance levels and maintaining support zones.

Breakout Pattern Echoes 2024 Rally Setup

Dogecoin's recent price action closely resembles the setup observed in 2024 before its significant rally. As noted by GalaxyBTC on X, the recent trendline retest mirrors the conditions preceding the surge towards $0.50. A similar pattern has now emerged in mid-2025. DOGE is currently trading at $0.2386, reflecting a 7.24% increase over the past 24 hours.

The market capitalization stands at $35.9 billion, with a trading volume of $2.7 billion, resulting in a volume-to-market cap ratio of 7.5%. The price initiated its upward movement near $0.2234, subsequently climbing and maintaining a position above $0.23 for the majority of the session.

Technical Structure and Key Price Levels

From a technical perspective, the DOGE Relative Strength Index (RSI) is at 57.52, indicating room for further gains before reaching overbought territory. The price is currently trading above its 7-day Simple Moving Average (SMA) at $0.21 and its 20-day SMA at $0.22, confirming a breakout from recent consolidation. Bollinger Bands suggest potential upward movement towards the upper band at $0.27.

Immediate resistance is identified at $0.29, while support levels are situated at $0.19 and $0.14. The daily pivot point is $0.23, which DOGE has successfully reclaimed. Market data suggests that sustained trading above this level could pave the way for a move towards the $0.25–$0.29 range.

Increased accumulation by large holders (whales) over the past 48 hours has contributed to the prevailing bullish sentiment. This also coincides with renewed speculation regarding the integration of DOGE payments on the X platform, which has historically triggered short-term rallies.