- Dogecoin forms a secondary wedge structure, mirroring the 2020 cycle with a breakout nearing.
- Analysts project DOGE could target $1.00, with Fibonacci models suggesting expansion up to $2.28.
- Rising DeFi growth and ETF filing signal stronger adoption and potential institutional participation.
Dogecoin is trading within a secondary wedge formation that mirrors its earlier bull cycle. The structure has compressed steadily across 2024 and 2025, leaving limited room before a breakout. Analysts tracking the pattern report similarities with the 2020 setup, when a wedge breakout triggered a strong rally toward historical highs.
Technical Setup and Cycle Comparison
According to analysis by CryptoWZRD, Dogecoin broke a long-term trendline in 2024, retested successfully, and entered a secondary wedge. This setup resembles the 2020–2021 cycle, where the same sequence preceded a sharp rally.
Historical comparisons show that secondary wedge breakouts have often delivered extended price movements in previous Dogecoin phases. Chart structures confirm compression is underway, with price action holding firm above support near $0.20.
Market projections indicate an upside target of $1.00 once the wedge resolves. Javon Marks stated, “Past cycle performances in Dogecoin are suggesting an 860% upside from here to $2.28, if not much more.” This aligns with Fibonacci-based projections showing structured expansions across market cycles.
Market Growth and Institutional Catalysts
Dogecoin’s on-chain data shows rising adoption. According to DeFiLlama, Total Value Locked in DOGE DeFi reached $20.46 million, marking consistent growth since 2023. Chain fees and revenue both stood at $2,546 in the past 24 hours, reflecting stable network activity. Market capitalization was reported at $33.6 billion with price steady at $0.22.
Institutional interest also continues to expand. REX Osprey filed with the SEC for a Dogecoin ETF, which would be the first US-regulated fund directly tracking DOGE. The filing proposes that 80% of holdings be allocated to Dogecoin through direct instruments, futures, or swaps, while the remainder stays in Treasuries and cash equivalents.
Analysts noted that the ETF filing coincides with the technical wedge setup, creating conditions for broader participation. Market watchers are now focused on whether the secondary wedge breakout will repeat history and carry Dogecoin toward $1.00.
