Dogecoin Surges 12% as Analysts Eye 200% Rally Potential

Dogecoin (DOGE) continues to display strong momentum as analysts maintain an optimistic stance on its uptrend. The cryptocurrency’s price recently climbed 12.01% over 24 hours to trade near $0.2125, supported by a daily trading volume of over $5.2 billion. This recovery follows a week of volatility where DOGE fell more than 17%. However, the market structure remains intact, signaling resilience and a continuation of the long-term bullish trend.

Uptrend Holds as Prices Form Higher Lows

According to analyst JAVON⚡️MARKS, Dogecoin has maintained its pattern of higher lows, confirming the uptrend’s strength. The coin has successfully broken out of a prolonged descending resistance, opening room for an extended rally. 

Technically, the structure points toward a price target of $0.6533, implying a potential 200% gain from current levels. If buying pressure sustains above the $0.18–$0.20 support region, DOGE could see further expansion toward $1.25 over the coming months.

Besides, the consistent higher highs and higher lows show that bulls remain in control. The sustained accumulation phase could provide the momentum required to break upcoming resistance zones and accelerate the rally toward higher Fibonacci targets.

Bullish Pennant Shapes on the 4-Hour Chart

Trader Tardigrade observed that DOGE is consolidating within a bullish pennant after rallying from $0.1850 to $0.2100. The pattern suggests a continuation setup, with support at $0.2050 and resistance around $0.2120. A breakout above this resistance could spark a move toward $0.2280, aligning with the pennant’s measured target.

Market Divergence Signals Institutional Support

Source: X

Analyst Dom noted that DOGE’s trading behavior during the recent market crash was notably different on Coinbase compared to other exchanges. While prices plunged to $0.09 elsewhere, Coinbase maintained a 40% higher valuation. This divergence indicates that certain market makers may have supported price stability, reflecting potential institutional backing that could reinforce bullish sentiment.