The DOGE chart is closely mirroring the setup that has historically preceded major breakouts, boosting the near-term Dogecoin price prediction with a likeness to its early 2021 pump.
This comes as the meme coin retests the same historic support zone that marked the mid-April market bottom—a critical juncture to cushion the 35% drop since the mid-May local top.
Looking to the macro, Fed Chair Jerome Powell’s recent remarks about the resilience of the U.S. economy—despite ongoing uncertainty—could fuel a broader return of risk appetite.
Historic Technicals and Fundamentals “All Lining Up” For a Rally
Popular pseudonymous X analyst ‘Batman’ highlighted a developing double-bottom pattern on the 4-hour chart—a classic reversal pattern.
DOGE / USDT 4-hour chart, double-bottom reversal pattern. Source: X, @CryptoBatman.They note this sideways consolidation as a historical tell of quiet momentum building towards an explosive move, with the most prominent example being a 15x Dogecoin price rally in 2021.
The analyst places particular focus on “major support” around the $0.168 level as ground zero of a staircase-like rally, with a four-wave move pushing DOGE beyond $0.25.
The outlook isn’t just technical. Fundamental catalysts “all lining up” with multiple DOGE ETF filings awaiting approval and continued accumulation from whales.
On June 15, analyst Ali Martines reported that whales had scooped up over 800 million DOGE over 48 hours in line with the initial retest of the $0.168 support—a testament to a reversal.
Dogecoin whale accumulation. Source: Ali Martines.More importantly, Batman points continued endorsement from Elon Musk with rumoured inclusion of Dogecoin for payments on the X platform.
Musk’s historic influence—having propelled DOGE’s rise to prominence in 2021 and ignited its late-2024 resurgence via the D.O.G.E. initiative—continues to serve as a major catalyst.
Dogecoin Price Analysis: How High Could a Reversal Go?
Strength on lower time frames adds merit to the bullish case that the $1.68 support level could lead to a breakout of a massive 4-year cup-and-handle pattern.
The $0.168 level now acts as the final line of defence to a long-standing support trendline that has marked local bottoms since mid-2024.
This trendline also intersects with the upper resistance of the handle, creating a high-stakes confluence zone where breakout pressure is building.
With a bounce decisive bounce, a breakout would set a technical target 345% above current prices at $0.75 based on the 1.618 Fibonacci extension.
Still, momentum indicators cast doubt that Dogecoin has the backing to push a bullish move.
The golden cross from May has proven to be short-lived as the MACD line widens its gap below the signal line after a death cross to start June—a sign of a prevailing longer-term downtrend.
The RSI also lends to weak buy pressure, looming below the neutral line at 42.
Should $0.168 fail, the Dogecoin price could fall 47% to its next major support around $0.090, last tested during the mid-2024 correction.
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The post Dogecoin Price Prediction: The Same Chart Pattern That Preceded DOGE’s 2021 Pump Is Flashing Again appeared first on Cryptonews.
