Doge to Hit $1? Third Falling Wedge Signals 450% Surge

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Doge to Hit $1？ Third Falling Wedge Signals 450% Surge

• Dogecoins third falling wedge mirrors past setups that led to over 200% and 370% breakouts.
• A potential 450% breakout targets $1, pending confirmation from resistance-level price action.
• Stochastic indicator shows DOGE in the oversold zone, signaling a possible short-term price bounce.

Dogecoin (DOGE) is forming a third falling wedge pattern on the weekly chart, according to market analyst Trader Tardigrade. This chart pattern is made up of lower highs and lower lows within narrowing trend lines. It often appears during downtrends and is known for producing sharp price moves when a breakout occurs.

In early 2024, the first wedge breakout saw DOGE gain over 200%. Later that year, a second wedge formed and resulted in a 374% price increase. Both breakouts followed a period of sideways movement before buyers stepped in and pushed prices higher. The third wedge now appears to be nearing its end, with price pressing against the resistance line.

Price Target Set Near $1

If Dogecoin breaks out in the same way it did during the previous two patterns, a projected gain of 450% could push the price near the $1 mark. The chart shows a clear upward path, starting from the current level and rising to just above $1.

Trader Tardigrade stated that

“a breakout from the 3rd falling wedge could lead to a 450% surge,”

but also pointed out that this is based on pattern repetition. No confirmation has occurred yet, and the market could still move in either direction. The price is currently trading near the lower boundary of the wedge, which is a level that traders often watch closely.

Daily Chart Stochastic in Oversold Zone

On the daily chart, the stochastic indicator has dropped into the oversold zone. This area is generally watched for signs of a price bounce. The last time DOGEs stochastic hit this level, the price moved higher shortly after.

In the most recent reading, the blue and orange lines on the indicator have both touched the lower boundary of the chart. The previous move from this level was followed by a strong short-term rally. Traders are now watching to see if that pattern plays out again.

Current Price and Volume

At press time, Dogecoin was priced at $0.1377. It has recorded a -0.02% change in the past 24 hours and a -1.6% drop over the last seven days. The 24-hour trading volume stands at $870,425,884, showing continued interest from the market even during this period of lower volatility.

While past moves have shown sharp gains following similar setups, future price action will depend on how buyers respond near the wedge resistance. Until a clear breakout is confirmed, the price remains inside the current range.