Dogecoin Analysts Predict Potential 100% Price Rally Ahead

Dogecoin's price is at a critical juncture after retesting a multi-year trendline. Chartists Crypto Balo and Cas Abbé suggest a potential breakout for DOGE, supported by technical indicators.

Key Insights on Dogecoin

Balo's three-day DOGE/USDT chart indicates the market completed a corrective phase near $0.15.
Strong support zone and trading volume convergence affirm this conclusion.
Balo identifies Fibonacci levels: $0.2350 (0.618 retracement) and $0.1671 (0.786 retracement). Sustaining above $0.1671 is crucial for bullish momentum.
He anticipates a sideways price movement before potentially doubling to $0.36, a significant resistance level.
Above $0.36, historical highs above $0.76 could be reattempted; $0.15 serves as a strong support floor.

Abbé's analysis focuses on a four-hour chart showing a classical falling wedge formation, indicating buyers have reversed the previous downtrend following a breakout.

RSI briefly dipped into oversold territory, signaling extreme selling pressure.
Current RSI recovery in the low-50s suggests potential bullish momentum.
If Bitcoin maintains momentum, DOGE could target $0.22–$0.25 within weeks.

Currently, DOGE trades at $0.17.