Dogecoin Analysts Predict Potential Price Rally to $0.45

Dogecoin (https://holder.io/coins/dogecoin/) experienced a 7% decline this week, reversing some recent gains. Analysts suggest this pullback may be temporary.

Chart Analysis Indicates Potential Breakout

Analyst Jake Wujastyk identified a descending triangle formation since Dogecoin peaked at $0.26 on May 11. Prices are oscillating between resistance and support lines, indicating tightening market conditions. Following an 8% surge, DOGE is now positioned for a possible breakout.

Expected breakout within the next 7 days with a trendline retest.
Current trading remains within the wedge pattern.
A potential upward break could lead to significant price movement.

Price Predictions

Wujastyk forecasts a potential rally from approximately $0.21 to $0.45, marking a 114% increase. His outlook relies on a bounce from the wedge's support level.

Another analyst, Bitcoinsensus, anticipates a rise to above $0.40 based on an inverse head-and-shoulders pattern.
This pattern suggests a target range of $0.42–$0.43, representing a 100–104% increase.

Market activity will be crucial in determining if these projections materialize as DOGE navigates its current resistance levels.