Dogecoin Breaks Free—Could Soar 60%, Analyst Says

Dogecoin edged up slightly to $0.17 on Friday, gaining 1.0% in the last 24 hours. Trading has thinned out this week, and Dogecoin has slipped almost 3% over the past seven days.

Based on reports, investors are moving carefully as volume dropped 30% to about $678 million.

Trading Volume Drop Signals Caution

According to on‑chain data, the slump in daily volume shows fewer traders are stepping in. That 34% slide in activity suggests a loss of momentum.

Some market watchers say low volume often leads to whipsaws. When fewer coins change hands, even modest buys or sells can push prices sharply in either direction.

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Triangle Pattern Points To Imminent Breakout

On charts stretching from early 2024 into mid‑2025, Dogecoin fits a symmetrical triangle. Prices have carved lower highs and higher lows as trendlines converge.

Data from crypto analyst Ali shows, this narrowing range often precedes a major move. He notes the tip of the triangle is due by June 2025, which puts a deadline on when volatility should pick up.
DOGE Bulls Eye Breakout
According to Ali’s analysis, a daily close above $0.22 likely signals a bullish breakout. If that happens, he sees Dogecoin reaching roughly $0.35 or $0.36—about 60% higher than current levels.

On the flip side, a drop below $0.16 could spark a sell‑off toward $0.10. Investors are watching those exact levels to decide whether to join buyers or cut losses.

DOGE Price Forecast
Digital Coin Price is on the optimistic end. They predict Dogecoin could go past $0.37 before year‑end and even test its old high of $0.74 again.
Market Catalysts Could Tip The Scales
Dogecoin’s swings often mirror the wider crypto space or follow social media buzz. A surge in Bitcoin or Ethereum prices could carry DOGE higher, while a broader sell‑off would magnify losses. Some traders also keep an eye on endorsements from well‑known figures and major exchange listings.

For now, patience may pay off. Traders will look for volume to confirm any move past $0.22 or under $0.16. Until then, expect choppy range‑bound action.

The next few weeks will be critical as the symmetrical triangle tightens. If volume steps back in, Dogecoin could pick a clear direction—either a strong rally or a deeper correction.

Featured image from Imagen, chart from TradingView