- Dogecoin confirms breakout above $0.165, with strong bullish signals and rising momentum.
- DOGE trading volume surges 35%, supporting analyst targets of $0.23, $0.29, and $0.34.
- Analysts suggest Dogecoin could reach $2.8 in future cycles if bullish structure holds.
Dogecoin (DOGE) is showing strong signs of entering a new bullish phase, driven by a confirmed breakout pattern. A third falling wedge breakout between DOGE and Bitcoin (BTC) has just occurred, a technical event that has previously led to major Dogecoin rallies. Current market conditions suggest that this time may not be different.
Dogecoin Confirms Falling Wedge Breakout and Trend Reversal
According to analysis prepared by Trader Tardigrade, Dogecoin’s recent breakout from its falling wedge pattern could lead to another major pump. Historical patterns show similar breakouts have preceded strong upward moves in Dogecoin’s price.
Supporting this view, Dogecoin’s daily chart confirmed a breakout above a descending trendline near $0.165 on April 22, 2025. The price later retested this trendline, now acting as support, before continuing higher. As of April 28, Dogecoin trades around $0.18, reinforcing the strength of the bullish trend.
Additional technical signals align with this movement. The daily Relative Strength Index (RSI) stood at 58 on April 28, moving out of oversold conditions. Meanwhile, the MACD indicator displayed a bullish crossover on April 27, indicating strengthening positive momentum.
Trading Volume and Analyst Targets Support Higher Moves
According to an observation by market trackers, Dogecoin’s 24-hour trading volume reached $1.2 billion on April 28, showing a 35% increase compared to the previous week. Major pairs like DOGE/USDT and DOGE/BTC recorded heightened activity on Binance and Kraken exchanges.
Crypto analyst Jonathan Carter has also identified bullish targets for Dogecoin. He projects the next resistance zones at $0.23, $0.29, and $0.34. Trader Tardigrade stated that in the short term, Dogecoin could hit $0.25 by early May, while the longer-term structure suggests a move toward $2.8 in future cycles.
