Dogecoin Trader Who Nailed 300% Rally Says Its About To Repeat
Dogecoin (DOGE) is once again breaking out of a textbook fallingwedge formation, and the analyst who anticipated the memecoins last threefold explosion thinks the stage is set for an encore. Breaking crucial area, expecting solid bullish wave in midterm, World Of Charts (@WorldOfCharts1) told his X followers while sharing a 12hour Binance chart.
Major Dogecoin Upswing Incoming?
He referenced a post from April 13 where he predicted: Doge: We caught this big move in Oct 2024, Dogecoin went more than 3×. Now again Doge [is] on [the] verge of massive breakout expecting 3× from here.The chart shows five months of compression that began when DOGE topped at just under $0.48 in early December.
Since then, every rally has stalled beneath a descending resistance trendline, which now cuts through the mid$0.155 zone; parallel support currently tracks the $0.14 area after cushioning a pair of capitulation wicks in March and April. The price is now breaking out of the upper boundary for the first time in almost two weeks.
World Of Charts measuredmove overlay starts at the notional breakout above $0.17 and projects a vertical advance of $0.21804, implying a primary objective just shy of $0.39a 138% gain from the trigger and within striking distance of the psychological $0.40 handle. If the setup delivers the same magnitude as last years wedge, the could ultimately test $0.65, completing a fresh threefold rally.
The time symmetry behind the call is hard to ignore: the current wedge has compressed for almost six months, mirroring the consolidation that preceded the OctoberDecember 2024 eruption from $0.11 to $0.48. Volume has thinned with each contraction cycle, a classic prebreakout signature, while momentum oscillators on lower time frames are beginning to tilt positive as spot reclaims its 50EMA.
Other analysts remain focused on Bitcoins grip over market beta. If BTC breaks above $89K and shows conviction upwards I think Dogecoin gets back to $0.26 relatively quick, cautions Kevin (@Kev_Capital_TA). BTC holds the cards as always, especially with BTC dominance pushing higher and monetary policy still tight. In his analysis, $0.26 represents the 0.618 Fibonacci retracement of the NovemberMarch slide, marking the first substantive hurdle even if DOGE clears wedge resistance.
From a pure chartbased perspective, the battle lines are now sharply drawn. A decisive daily close above trendline and a successful retest would confirm the breakout, shift the red demand band into a springboard, and expose successive targets. Failure to punch through would keep price pinned inside the pattern, with any slip below $0.15 risking a slide toward structural support at $0.13 and, in extremis, the $0.11 pivot that launched last years parabolic ascent.
At press time, DOGE traded at $0.1641.
Read more: https://www.newsbtc.com/news/dogecoin/dogecoin-trader-who-nailed-300-rally-about-to-repeat/
Text source: NewsBTC
