Dogecoin (DOGE/US Dollar) Forms Bullish Pennant Pattern, Could Rally by 30%

On May 28, 28, 2025, the 4-hour Dogecoin (DOGE/US Dollar) chart on Coinbase displayed a pennant pattern, which is a bullish continuation pattern.

The pennant pattern occurs when a strong upward move (the flagpole) is followed by consolidation inside converging trendlines (the pennant), usually signaling potential for further gains after the initial rally.

If this pattern confirms, Dogecoin could rally by nearly 30% from the current price of $0.22159 to reach around $0.33248.

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Dogecoin Nurtures Pennant Pattern Amid 50 EMA Battle

The chart shows a steep rise starting on May 9, which built the initial flagpole. Since then, DOGE has been consolidating inside a symmetrical triangle formed by downward and upward sloping red trendlines. This triangle structure creates the pennant.

Currently, the 50-period Exponential Moving Average (EMA) at $0.22671 is acting as dynamic resistance. The price remains slightly below this level, suggesting buyers still need to gain control.

Trading volume stands at 8.9 million, which is moderate. A breakout with higher volume would confirm the bullish pennant pattern.

DOGE must close above the upper red trendline with increased volume to validate the bullish scenario. If that happens, the projected target of $0.33248 could be reached in the coming sessions.

Dogecoin RSI Signals Growing Bearish Momentum

The Relative Strength Index (RSI) for Dogecoin (DOGE/US Dollar) stood at 41.01 on May 28, 2025.

The RSI is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100, with values below 50 suggesting weakening momentum and values under 30 signaling oversold conditions.

Currently, the RSI sits below the neutral 50 line, indicating bearish momentum is building. It is also below its 14-period moving average (yellow line), which stands at 48.09, reinforcing the downward pressure.

The RSI has consistently failed to hold above the 70 level over the past weeks, showing no signs of strong bullish strength. Instead, it has formed lower highs, which reflects weakening buying power.

If the RSI continues to fall, Dogecoin may face extended consolidation or decline, unless a strong price breakout shifts momentum above the 50 threshold. For now, the indicator supports the bearish-to-neutral short-term outlook.

Dogecoin Price Mirrors Past Bull Cycles - Another Surge Ahead?

Dogecoin (DOGE) appears to be repeating its historical price behavior, according to a chart analysis by crypto analyst Trader Tardigrade. The current monthly pattern closely resembles formations seen before previous massive rallies in 2017 and 2021.

In both earlier cycles, DOGE formed rounded bottoms followed by consolidation phases and sharp upward breakouts. In 2017, Dogecoin surged over 2,000%, rising from under $0.00018 to above $0.0075 in just months. Then in 2021, the rally intensified. DOGE soared by more than 30,000%, moving from below $0.002 to a peak above $0.73—its all-time high.

Now, the same setup appears to be forming again. The chart shows a similar curved bottom and upward channel, signaling possible breakout conditions. The pattern includes a long downtrend, gradual recovery, and a tightening price range, just like before each historic rally.

If this formation plays out as before, Dogecoin may be positioned for a significant move upward. Even a conservative estimate—matching the 2017 cycle’s percentage increase—would place DOGE above $4. However, the chart by Trader Tardigrade outlines a more aggressive target, showing a projected rise to $12, suggesting a double-digit price is possible.

Yet, this time, Dogecoin faces higher market capitalization constraints, which could limit upside potential compared to earlier low-cap conditions. Still, the repeated structure, increasing volume, and strong technical support give weight to the breakout scenario.