Dogecoin Poised for Up to 600% Rally but Faces Key Support Tests
Dogecoin (DOGE) has weakened since early June, slipping below its June 5 support at $0.16 and both the 21- and 50-day moving averages. Bears are targeting $0.14 and, if that fails, a deeper slide toward $0.10. A Doji candlestick on the weekly chart suggests bearish momentum may be slowing, yet the downtrend persists.
Currently trading at $0.1690, DOGE also fell below a critical $0.174 support amid declining open interest. Crypto analyst Ali Martinez notes a symmetrical triangle between $0.16 and $0.22; a daily close above or below this range could trigger a 60% move up to $0.27 or a 60% drop. Meanwhile, Javon Marks spots a long-term bullish structure projecting a 260% rise to $0.65, with a potential extension toward $1.25 (600% gains). If the breakout fails, DOGE may retest lower supports at $0.128 and $0.097.
Traders should watch the $0.14–$0.16 support zone, monitor triangle boundaries and moving-average crossovers for clear trend confirmation, and employ strict risk management to time entries.
Neutral
The analysis highlights both bullish and bearish scenarios: short-term resistance breaks could spark 60% moves, while a failure may drive prices toward key supports at $0.14, $0.128 and $0.097. Long-term structures project up to 600% gains, but current downtrends and moving-average breakdowns warrant caution. This balanced outlook suggests traders prepare for volatility in either direction, confirming trend changes before entering positions.