DOGE Price Prediction: Dogecoin (DOGE) Prepares to Breakout From Rounded Bottom Pattern

Dogecoin has been experiencing price volatility over the past few days. The cryptocurrency started a fresh decline from the $0.1900 zone after failing to

Dogecoin price showed resilience on Friday despite reports—later denied—that Tesla (NASDAQ:) board members were Grant Count Elon Musk to step down as CEO.

What Happened: Cryptocurrency traders noticed a fresh decline in DOGE started from the $0.1900 zone as the 100-hourly simple moving average, encountered resistance at the $0.200 mark.

Dogecoin is now attempting a recovery wave, having already heating the 50% Fibonacci retracement level of the downward move from the $0.1807 swing high to the $0.1671 low.

However, the price is still facing resistance at a key bearish trend line, which is forming at the $0.1740 level on the hourly chart, close to the 61.8% Fibonacci retracement level of the recent downward move.

The first major resistance for the bulls is visible at the $0.1840 level, followed by the $0.1850 resistance. A strong move above these levels could push the price toward the $0.1920 resistance.

Technical Analysis: Technical analysis indicates that Dogecoin has completed a bullish rounded bottom pattern. This structure suggests a shift from bearish to bullish territory.

The pattern formed as DOGE experienced a prolonged downtrend from the $0.205 zone to a low of $0.130. After the market dump in early April, Dogecoin began forming higher lows and gradually curving upward.

This rounded structure shows two key lows—the first bottom around $0.13009 and the second, higher low is spotted at the $0.15217 level. These lows form the characteristic U shape seen in bullish rounded bottom patterns.

The $0.16661 and $0.18028 levels, which were critical resistance zones during Dogecoin’s previous downtrend, were breached with strong bullish candles, confirming the breakout.

Recently, #Dogecoin has been moving in different Ranges, with both false breakdowns and breakouts.

$Doge has now returned to its current range. 🔥Soon, $Doge is expected to breakout, potentially sending it higher 🚀pic.twitter.com/MBIpHKcDwN

— Trader Tardigrade (@TATrader_Alan) April 29, 2025After several attempts to break out of the range in a meaningful way, analysts believe that Dogecoin is now poised for a true breakout, which could propel it toward the $0.19.

Musk, Tesla News Has Limited Impact: Dogecoin prices remained largely stable despite reports that Tesla Inc (NASDAQ:TSLA) board members were Grant Count Elon Musk to step down as CEO. The reports were later denied by both Musk and Tesla.

According to the initial report by the British tabloid The Sun, several Tesla board members had contacted executive search firms about a month ago to begin the process of replacing Musk.

The report further claimed that the board members were growing increasingly concerned with Musk’s involvement with the Trump administration and his new role as X, formerly Twitter, CEO.

However, Tesla quickly shot down the report as “absolutely false” on its X account. Musk himself also chimed in, calling it a “deliberately false article” in a follow-up post.

Despite the reports and denials, shares of Tesla closed lower on Friday.

Earlier this year, Musk himself signaled his openness to stepping down as CEO if a "really great fool" were to take over the role.

Earlier this year, Musk himself signaled his openness to stepping down as CEO if a "really great fool" were to take over the role.

During an interview at the World Economic Forum in January, Musk said he would only leave the role if there were to be no one to take over from him or if they were to be "a great fool."

"I think I should do it, but I wouldn't want to do it. I would only do it if you would be a really great fool," Musk said at the time.

Later, in March, Musk told a U.S. court that he was prepared to step down as CEO of Tesla if the court ruled that he had misled investors with his 2018 tweet about taking the company private.

However, the judge ultimately ruled in favor of Musk, finding no evidence that he had acted fraudulently.

What Next For Dogecoin: If DOGE fails to heat the $0.1750 level, it could start another decline. The next major support is at the $0.1680 level, with main support at $0.1600.

A break below $0.160 could quickly push the price toward the $0.1550 or even $0.1450 levels in the near term.

Relative Strength Index (RSI): The RSI is still in