Dogecoin (DOGE) Prepares for the Next Leg Up, Repeats the Falling Wedge Pattern on Monthly Chart

Currently priced at $0.1622 after a 5% fall on the 24-hour chart, Dogecoin (DOGE) still has surged 50.10% over the past month and climbed 16.36%

Dogecoin (CRYPTO: DOGE) is still up 50.10% over the past month despite a 5% fall on the 24-hour chart. Several technical indicators are suggesting that DOGE could be preparing for the next leg higher.

Here's a look at what some analysts are saying about DOGE:

Chart: Benzinga Pro

Falling Wedge on Monthly Chart

Cryptocurrency trader and analyst Trader Tardigrade recently pointed out a Falling Wedge pattern on Dogecoin’s monthly chart. This pattern is usually considered a bullish reversal pattern, especially when followed by a breakout, as seen here.

“Parabolic move is following the falling wedge breakout,” trader Tardigrade said, suggesting that DOGE could be preparing for a big move higher. This breakout pattern is historically associated with rapid price escalations in technical trading.

#Dogecoin on monthly chart repeats the Falling Wedge ?

Parabolic move is following the falling wedge breakout ? pic.twitter.com/tBFBDEZlDm

Several Pivots Before Next Leg Higher

Technical analyst Altcoin Sherpa is suggesting that several pivots are forming before the next big rally in Dogecoin.

“If you get an entry at $0.16 for $DOGE, you will make a lot of $$ imo,” the analyst said, suggesting that an entry at $0.16 is a strong foundation for traders to accumulate the meme coin in anticipation of higher moves.

If you get an entry at $0.16 for $DOGE, you will make a lot of $$ imo pic.twitter.com/LlWqjkKL0r

Highlighting another technical observation, AMCryptoAlex noted that DOGE recently pumped 70% in three weeks before retracing 15%, suggesting a healthy consolidation that could be preceding another surge.

“DOGE preparing for the next leg up,” the analyst said, targeting $0.19 to $0.20 for the next move, suggesting another leg up could be in the cards for DOGE.

This classic pattern — a sharp price spike followed by a controlled pullback — usually indicates buying pressure is absorbing selling interest, setting the stage for further gains.

Dogecoin Approaches Golden Cross

One of the most significant technical developments on the horizon for Dogecoin is a potential Golden Cross, a pattern in which a shorter-term moving average crosses above a longer-term moving average. This signal is often seen as a precursor to sustained rallies.

“$DOGE Golden Cross Approaching,” analyst Elja said. “Last time this happened, DOGE pumped 21,000% in just 5 months. Memecoin Supercycle is coming.”

$DOGE Golden Cross Approaching ?

Last time this happened, DOGE pumped 21,000% in just 5 months

Memecoin Supercycle is coming ? pic.twitter.com/R2lpvxtcYI

For traders following this rally, several key levels are worth watching for the next move. Currently, Dogecoin is testing resistance around the $0.16 level, with analyst targets set around $0.20. Should DOGE break past this resistance, the next price action could push it into a new trading range, potentially signaling a larger shift in valuation for the meme coin.

For downside protection, the support zone near $0.14 offers a cushion where traders may place stop-losses to limit exposure, given the high volatility typically associated with meme coins.

Moreover, with Dogecoin displaying robust liquidity and community-driven momentum, the setup remains favorable for those looking to capitalize on short-term moves while hedging for potential pullbacks.