- Dogecoin trades within an ascending broadening wedge, with a projected target of $1.4 by 2025.
- Over 1 billion DOGE accumulated in 24 hours as price holds key support at the $0.20 level.
- Technicals point to $0.24–$0.28 as next resistance zones if DOGE breaks above the $0.21 mark.
Dogecoin’s price structure is developing inside an ascending broadening wedge pattern, with analysts projecting a possible long-term move toward $1.4. The cryptocurrency has recently attracted renewed attention as large holders have accumulated over one billion DOGE in just 24 hours. At the time of writing, DOGE was trading at $0.2003.
Technical Pattern Points to Higher Price Projections
Trader Tardigrade’s analysis shows that Dogecoin has been moving within an ascending broadening wedge on the weekly chart since early 2023. Price rose from $0.22 to $0.48 during this period, marking a gain of 120% before pulling back toward the lower trendline.
The chart projects a 190% rise from $0.48, potentially reaching $1.4 near late 2025. This projection is based on historical cyclical price swings within the wedge boundaries. Both the upper and lower trendlines have widened over time, indicating increased price volatility.
Between March and October 2024, Dogecoin faced resistance under a downward-sloping trendline. In November, a breakout occurred during a broader market rally, similar to a 2024 pattern that preceded a 200% gain. Current price action shows rising support levels and a successful retest of the $0.20 breakout level, now acting as support.
Whale Accumulation and Key Price Levels
According to Ali Charts, whales bought over one billion DOGE in the last 24 hours. This accumulation comes as Dogecoin trades within its historical accumulation zone of $0.15 to $0.22, which has preceded strong rallies in the past.
Technical indicators show DOGE testing both the 50-day EMA and 200-day SMA near $0.21. A sustained close above this level could pave the way toward $0.24 in the short term and $0.28 in the medium term.
Positive long-to-short ratios on Binance and OKX suggest that institutional and high-volume traders are positioning for further gains. If bullish momentum continues and resistance levels are cleared, analysts maintain that the ascending broadening wedge pattern leaves open the possibility of Dogecoin reaching $1.4 by late 2025.
