Dogecoin (DOGE) Is Breaking Out of a Textbook Falling-wedge Formation

A crypto analyst known for his textbook technical analysis and impressive market calls is highlighting a crucial breakout point for Dogecoin (DOGE) price.

This comes ahead of what another analyst says could be a 618% move if Bitcoin (BTC) can break above a key resistance.

Dogecoin Breaks Out Of Falling Wedge

World Of Charts (@WorldOfCharts1) noted on X (formerly Twitter) that Dogecoin is breaking out of a crucial area, expecting a solid bullish wave in the midterm.

He referenced a post from April 13 where he predicted: “We caught this big move in Oct 2024, Dogecoin went more than 3×. Now again Doge on verge of massive breakout… expecting 3× from here.”

The chart shows five months of compression that began when DOGE topped at just under $0.48 in early December.

Since then, every rally has stalled beneath a descending resistance trendline, which now cuts through the mid-$0.155 zone; parallel support currently tracks the $0.14 area after cushioning a pair of capitulation wicks in March and April. The price is now breaking out of the upper boundary for the first time in almost two weeks.

World Of Charts’ measured-move overlay starts at the notional breakout above $0.17 and projects a vertical advance of $0.21804, implying a primary objective just shy of $0.39—a 138% gain from the trigger and within striking distance of the psychological $0.40 handle.

If the setup delivers the same magnitude as last year’s wedge, the could ultimately test $0.65, completing a fresh three-fold rally.

The time symmetry behind the call is hard to ignore: the current wedge has compressed for almost six months, mirroring the consolidation that preceded the October–December 2024 eruption from $0.11 to $0.48.

Volume has thinned with each contraction cycle, a classic pre-breakout signature, while momentum oscillators on lower time frames are beginning to tilt positive as spot reclaims its 50-EMA.

BTC Key To Next DOGE Move

Other analysts remain focused on Bitcoin’s grip over market beta.

“If BTC breaks above $89K and shows conviction upwards I think Dogecoin gets back to $0.26 relatively quick,” Kevin (@Kev_Capital_TA) noted. “BTC holds the cards as always, especially with BTC dominance pushing higher and monetary policy still tight.”

In his analysis, $0.26 represents the 0.618 Fibonacci retracement of the November–March slide, marking the first substantive hurdle even if DOGE clears wedge resistance.

From a pure chart-based perspective, the battle lines are now sharply drawn. A decisive daily close above trendline and a successful retest would confirm the breakout, shift the red demand band into a springboard, and expose successive targets.

Failure to punch through would keep price pinned inside the pattern, with any slip below $0.15 risking a slide toward structural support at $0.13 and, in extremis, the $0.11 pivot that launched last year’s parabolic ascent.

At press time, DOGE traded at $0.1641.