In the past 24 hours, DOGE is up almost 3% despite a 36% decline in trading volume, as per CoinMarketcap data.
According to analysts, the meme coin’s long-term structure still completes the handle of a massive cup-and-handle formation, a bullish continuation pattern that has been developing since 2021 and potentially targets $2 in the coming years.
Dogecoin’s higher-timeframe setup is structurally sound with the monthly candle showing that DOGE retraced as far as the 0.382 logarithmic Fibonacci level before rebounding to hold above the 0.618 level near $0.20.
This area has become the key support, maintaining the bullish symmetry of the cup-and-handle pattern.
$Dogecoin 🚨 @dogecoin Hidden Bullish Secret: Cup & Handle Intact Amid Chaos! 🐕💥@MindoAI@CryptoRubic@EdgenTech In the wake of last week’s altcoin bloodbath, most eyes are on the fear—but zoom out on DOGE’s monthly chart, and a massive cup-and-handle pattern (forming since… pic.twitter.com/H3a8XljidZ
The cup phase stretched from Dogecoin’s 2021 highs near $0.73 through the multi-year base that bottomed in 2022, followed by a rebound through 2023 and 2024 that completed the rounded base.
The handle formation has since been consolidating between $0.15 and $0.30. If the pattern holds, the breakout projection based on Fibonacci extensions points to $0.90, $1.25, and $1.99.
It is important to note that a confirmed breakout through $0.48, the cup’s neckline, would formally activate this pattern.
DOGE Price Analysis: Indicators Scream Bullish
The indicators on the monthly timeframe show that the RSI currently stands near 52.5, indicating that while momentum remains balanced, there is still room for a strong upside push if volume returns.
Meanwhile, the MACD histogram is contracting toward a potential bullish crossover, which could mark the early stages of trend reversal.
Past crossovers on the monthly chart have historically preceded multi-month rallies in Dogecoin.
Source: TradingView
The bullish scenario depends on Dogecoin holding above the $0.20–$0.18 support range. Sustained closes above $0.30 could signal renewed strength and re-expose $0.48 as the next resistance.
Beyond that level, a breakout could drive DOGE toward the $0.90–$1.25 range and potentially the $2 zone, representing a surge of nearly 900% from current levels.
However, failing to hold $0.15 could delay or invalidate the pattern. The next major support sits around $0.11, corresponding to the 0.382 Fibonacci level.
A monthly close zone, this threshold would compromise the handle symmetry and open the path for deeper consolidation before any further rally attempt.
What Most Traders Are Missing
While short-term traders fixate on daily fluctuations, the broader structure paints a very different story.
Dogecoin’s long-term consolidation mirrors previous accumulation phases that preceded its explosive rallies in 2017 and 2021.
DOGE Eyes Generational Rally as $SNORT Presale Takes Off
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.