Dogecoin has entered a phase of consolidation after making highs above $0.25 earlier this week. The popular meme cryptocurrency is currently trading at approximately $0.22, indicating a 10% decline over the past 24 hours but still reflecting a 34% gain over the past week.

This recent price action has sparked discussion among crypto analysts, who suggest that DOGE may be setting up for another leg higher despite the current pullback.

Technical Patterns Suggest Higher Targets

According to crypto analyst Rekt Capital, Dogecoin recently achieved an important milestone by recording a weekly close above its pre-halving highs. This technical development is considered bullish as the cryptocurrency is now “on the cusp of reclaiming its old resistance as new support,” a pattern already showing on daily timeframes.

$DOGE

Dogecoin has successfully Weekly Closed above the Pre-Halving highs (green)

Now on the cusp of reclaiming that old resistance as new support

DOGE has already shown initial signs of this on the Daily

Hold green and at least $0.27 would be next#DOGE #Crypto #Dogecoin https://t.coسبة