Dogecoin Forms Bullish Wedge Pattern with $1.4 Target in Sight by Late 2025

Dogecoin is currently trading within an ascending broadening wedge pattern, leading some analysts to project a potential target of $1.4 by 2025.

Recent activity shows significant accumulation, with over one billion DOGE acquired in a 24-hour period as the price holds key support around the $0.20 level.

Technically, a break above the $0.21 mark could open the path towards resistance zones at $0.24–$0.28.

Dogecoin's price action is forming within an ascending broadening wedge, sparking renewed interest and long-term price targets around $1.4. The accumulation of over one billion DOGE by large holders in a single day highlights this renewed attention. At the time of writing, DOGE was trading at $0.2003.

Technical Pattern Points to Higher Price Projections

Analysis indicates that Dogecoin has been navigating an ascending broadening wedge on the weekly chart since early 2023. During this period, the price climbed from $0.22 to $0.48, representing a 120% increase before retracing towards the lower trendline.

The chart suggests a potential 190% increase from $0.48, possibly reaching $1.4 by late 2025. This projection is based on historical price fluctuations within the wedge's boundaries. The widening of both the upper and lower trendlines indicates increased price volatility.

Between March and October 2024, Dogecoin encountered resistance under a downward-sloping trendline. A breakout occurred in November, coinciding with a broader market rally, mirroring a pattern from 2024 that preceded a 200% gain. Current price action demonstrates rising support levels and a successful retest of the $0.20 breakout level, which is now acting as support.

Whale Accumulation and Key Price Levels

Recent data reveals substantial whale accumulation, with over one billion DOGE purchased in the last 24 hours. This accumulation occurs as Dogecoin trades within its historical accumulation zone of $0.15 to $0.22, a range that has historically preceded significant rallies.

Technical indicators show DOGE testing both the 50-day EMA and 200-day SMA near $0.21. A sustained close above this level could potentially lead to $0.24 in the short term and $0.28 in the medium term.

Positive long-to-short ratios suggest that institutional and high-volume traders are positioning for further gains. If bullish momentum persists and resistance levels are overcome, analysts maintain that the ascending broadening wedge pattern leaves open the possibility of Dogecoin reaching $1.4 by late 2025.