Dogecoin (DOGE) may be undergoing a correction like the overall crypto market after last week’s price surge, but one prominent market watcher is choosing to look beyond this short-term price drop.

In particular, Jake Wujastyk predicts that the largest meme coin by market capitalization is preparing for an impressive upward trend, as its chart shows a promising pattern.

This analysis comes before Dogecoin experienced a less than stellar start to the week. The community-driven token dropped 7% in just a day, almost wiping out the entire gains made on the last day of the previous week.

Dogecoin Price Drops 1.41% in 24 Hours

On Monday, May 21, 2025, Dogecoin saw a slight pullback, dipping by 1.41% over the past 24 hours to trade at $0.2266, or approximately IDR 3,714.

During this period, DOGE reached a high of IDR 3,788 and a low of IDR 3,585, reflecting modest intraday volatility.

At the time of writing, Dogecoin’s market capitalization stood at approximately $33.66 billion, while its 24-hour trading volume decreased by 10%, reaching around $1.8 billion.

It’s Impossible to Miss the Dogecoin Trading Opportunity: Analyst

In his comments on Sunday, Wujastyk highlighted how Dogecoin’s chart looked very tempting.

The meme coin has just experienced an 8% increase in a day (5/19), pushing its price close to the top of the descending triangle pattern that is forming.

This pattern began to appear since Dogecoin’s rally to $0.26 on May 11, with price movements fluctuating between the upper resistance and lower support levels. As the chart structure narrowed, the analyst suggested that a potential breakout could occur in the near future.

According to Wujastyk, with such bullish price developments, it’s very difficult for anyone to miss out on Dogecoin trading opportunities.

Although the price corrected slightly today, the asset is still moving inside a triangle pattern, which reinforces the validity of the analysis.

Furthermore, Wujastyk predicts that the price direction will continue to rise sustainably. Specifically, he expects the breakout of the pattern to bring DOGE to double to $0.45 – or about 114% higher than the current price.

Estimated Time to Rally Above $0.40

Additionally, Bitcoinsensus analysts also shared a positive outlook for Dogecoin, aligning with Wujastyk’s prediction.

He stated that DOGE is on the verge of a breakout above $0.40 and mentioned that there has been a breakout that supports his claim.

In the detailed chart included, it can be seen that Dogecoin has been forming an inverse head-and-shoulders pattern since March. The left shoulder formed from a low of $0.14 on March 11, the head from a point of $0.13 on April 7, and the right shoulder from $0.16 on May 6.

The breakout of this bullish pattern pushed the price towards the medium-term resistance trend line, which has been a barrier to Dogecoin’s price since it reached a peak of $0.48 on December 8.

Although the price is currently correcting healthily from the supply zone, Bitcoinsensus predicts that the impetus from the H&S pattern and broader market momentum will trigger a breakout in the next seven days.

If this breakout occurs, the analyst expects the DOGE price rally to reach a range between $0.42 to $0.43, which is the next supply zone. From the current price of around $0.21, the rally would reflect a gain of between 100% to 104%.

Interestingly, Dogecoin price predictions from some analysts are even higher. For example, analyst Javon Marks estimates that the price could jump to $0.65. Meanwhile, a market watcher named Chris expects the DOGE price to reach $1 by September 2025.

However, analyst Ali Martinez warns that the resistance level at $0.26 is still a short-term barrier to higher prices.

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