Remittix (RTX) token presale raises over $15 million as technical indicators flash bullish signals for DOGE

The Dogecoin price is flashing bullish signals again, with technical analysts pointing to a falling wedge pattern often preceding sharp breakouts.

Technical analysts are noting a falling wedge pattern in Dogecoin (CRYPTO: DOGE) chart, which may be setting the stage for a sharp breakout.

What Happened: Analysts at AliPertChart noted that Dogecoin broke out of the pennant pattern at $0.23, as noted by Martinez previously.

Now, with the breakout confirmed, the next Fibonacci level to watch is the 1.414 extension, which would bring Dogecoin to $0.31. This represents a 29% rally from current levels if the momentum continues.

At the same time, another crypto analyst, known as "Psy," announced that Solana (CRYPTO: SOL) Native Token Transfers (NTT) and zero-knowledge proofs by Psy and RISC Zero will enable full support for Dogecoin.

"We are excited to announce that Solana will fully support Dogecoin through Wormhole for cross-chain native token transfer and Psy’s efficient zkp technology," the announcement read.

Solana is able to perform cross-chain token transfers using NTT, while Psy and RISC Zero provide the capability for private smart contract execution.

"This unlocks rapid cross-chain utility with efficient zkp-powered privacy, allowing for seamless interoperability and new use cases across blockchains, all while preserving token ownership and smart contract compatibility."

Why It Matters: Dogecoin is heating up again, with a 2.28% daily gain pushing the price to $0.245 at the time of writing. This follows a 14.39% weekly gain, fueled by Solana integration and a breakout from a key technical pattern.

Analyst AliPertChart pointed out the completion of the pennant pattern at $0.23, which was previously noted by crypto analyst Ali Martinez.

"As discussed, the breakout of the pennant pattern at $0.23 confirms the wedge pattern, which usually leads to a sharp move in the same direction as the wedge slope," the analyst said.

Pointing out the 1.414 Fibonacci extension from the wedge breakout, the analyst added that it lies at $0.31, which could be the next key price target for Dogecoin.

"Moreover, the wedge pattern usually sees a move equal to the wedge's height, which again brings us to around $0.31."

Earlier this week, Martinez also noted that $26 has acted as a strong resistance level for Dogecoin in the past.

"Despite testing the $0.26 zone multiple times, buyers failed to push through the seller's stronghold at this level. However, on Friday, buyers finally managed to break above the $0.26 zone, setting the stage for the next move towards the 1.414 Fibonacci extension at $0.31."

If the bulls can maintain control and push through the $0.26 resistance, then the next Fibonacci level at $0.31 may come into play. A move to this level would represent a 29% rally from current price levels.