The price of Dogecoin (CRYPTO: DOGE) has just completed a key technical breakout against Bitcoin (CRYPTO: BTC), which could signal the start of a significant rally, according to a crypto analyst.

What Happened: Trader Tardigrade, an X (formerly Twitter) crypto analyst, identified a third Falling Wedge pattern on the DOGE/BTC pair on the 3-day time frame.

This pattern is known for being a bullish reversal signal that usually precedes substantial price increases. A cryptocurrency forms a Falling Wedge during a downtrend as the optimal trades make lower highs and lower lows, but the range of this movement gradually tightens. This narrowing indicates that selling pressure is diminishing and buyers are slowly regaining control of the market.

Dogecoin had already formed two previous Falling Wedge patterns in 2023 and 2024, which were followed by a breakout in the DOGE/BTC pair and a rapid and aggressive rally, as highlighted by the sharp vertical green arrows and market capitalization surges on the chart. These massive price increases occurred in March 2024 and again around October of the same year.

Now, in April 2025, the third Falling Wedge has completed its breakout, marked once again by a breakout candle above the descending resistance line. This signals a strong shift in bullish momentum according to the technical pattern, setting the stage for Dogecoin to record its third pump.

Trader Tardigrade noted that Dogecoin’s current wedge setup closely mirrors past cycles, making it interesting to observe whether the meme coin will continue its performance in this cycle. According to the analyst’s analysis, the DOGE/BTC pair could experience an explosive surge from $0.00000173 to $0.000057 if the technical pattern plays out as expected.

Related Link: Dogecoin Remains A Key Target For Vijay Karthikesan's Relative Strength Analysis

Why It’s Important: As the crypto market prepares for the highly anticipated altcoin season, present technical indicators are pointing to Dogecoin as a candidate for a powerful pump.

Trader Tardigrade also examined Dogecoin’s historical performance in relation to Bitcoin, specifically looking at the DOGE/BTC trading pair on a 3-day time frame. The analysis highlights a recurring pattern involving price action and the On-Balance-Volume (OBV) indicator, a metric used to measure the balance between buying and selling pressure.

According to the analyst, Dogecoin could soon outperform Bitcoin if the current OBV pattern in the DOGE/BTC pair follows historical trends. Notably, the current setup bears a striking resemblance to the pattern observed in mid-2024, just before Dogecoin began outperforming Bitcoin, leading to a period of outperformance that spanned from October to December of that year.

In both previous and current instances, DOGE experienced a steady downturn, followed by a consolidation phase. There was also a notable rise in OBV, signaling strong accumulation and buying pressure. Ultimately, this led to a sharp breakout, triggering a strong rally in DOGE relative to BTC.

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