- DOGE forms a bull flag pattern, holding above $0.22 with a potential breakout to $0.37.
- ETF filing by 21Shares and whale activity boost DOGE price, up over 40% in May.
- DOGE reclaims key zones, breaking long-term downtrend with higher highs and higher lows.
Dogecoin (DOGE) is trading within a bullish continuation pattern, commonly known as a bull flag, as it attempts to maintain recent gains. The memecoin recently climbed above the $0.22 support zone and is now consolidating with a possible breakout target of $0.37 in the near term.
DOGE Retests Key Support as Bull Flag Formation Develops
According to analysis prepared by Rekt Capital, Dogecoin closed a weekly candle above the previous resistance zone formed before the halving. This zone, now acting as support, lies near the $0.22 level. The price is currently retesting this area, which could confirm the bullish pattern if the support holds.
Rekt Capital’s chart shows that the breakout from the pre-halving resistance is followed by a successful retest. The green zone marked on the chart is turning into a new support base. This behavior often aligns with continued upward movement if the structure remains intact. DOGE has bounced between $0.22 and $0.24 during the recent trading sessions.
Ali Martinez also noted that DOGE is moving back into a historically important resistance zone between $0.24 and $0.27. This range previously acted as support and then turned into resistance following a correction earlier in 2025. A strong break above this range would challenge sellers and clear the path toward higher levels.
ETF News and Whale Activity Add Momentum to DOGE Price
According to an observation by Javon Marks, Dogecoin has broken out of a long-term downtrend that began after its 2021 peak at $0.70. Since then, the coin has shown higher lows and higher highs, confirming the formation of an uptrend. The latest support was found at $0.16, strengthening this pattern.
Meanwhile, the United States SEC acknowledged the ETF filing by 21Shares for a spot Dogecoin product. The news helped DOGE rise 6.29% in 24 hours, with the price moving near $0.24. Whale accumulation has also supported the bullish price movement, pushing May’s growth to over 40%.
