Top Market Analyst Predicts Exceptional Bullishness in the Dogecoin Chart

A top market analyst has lauded the exceptional bullishness in the Dogecoin chart, predicting a quick twofold price rally.

Top market analyst, Jake Wujastyk, has lauded the exceptional bullishness in the Dogecoin chart, which is setting up nicely for a quick twofold price rally.

The analysis follows Dogecoin’s wrong-footed start to the week, as the community-driven token dumped 7% today alone, nearly relinquishing all of its gains on the last day of the previous week.

In his Sunday commentary, Wujastyk highlighted a tempting Dogecoin chart. Having just rallied 8% on the day, pushing prices close to the top of a developing descending triangle, there is no way you wouldn’ll take a Dogecoin trade.

The pattern started emerging from Dogecoin’s rally to $0.26 on May 11, with prices fluctuating between the upper resistance and lower support.

With the structure getting tighter, the analyst suggested that a breakout could be imminent. According to him, there is no way one wouldn’t take a Dogecoin trade with the bullish price development.

While prices have retraced slightly today, the asset still trends within the wedge, confirming the validity of the commentary.

From here, Wujastyk predicted a sustained upward trajectory to higher prices. Precisely, he projected a breakout from the wedge, with an easy twofold rally to $0.45, which is about 114% away from the current prices, on the cards.

Possible Timeline For Rally To Above $0.40

Moreover, analyst Bitcoinsensus shares a bullish outlook and target similar to Wujastyk on Dogecoin. He stated that DOGE is on the cusp of a breakout to above 40 cents and cited a breakout to support his claims.

An accompanying elaborate chart shows that Dogecoin formed an inverse head-and-shoulders pattern dating back to March. The left shoulder formed from March 11’s low of $0.14, the head from April 7’s low of $0.13, and the right shoulder from $0.16 on May 6.

Furthermore, the breakout from the bullish structure propelled prices to a multi-month resistance trendline, which has impeded Dogecoin’s price since its high of $0.48 on December 8.

While prices have healthily retraced from the supply zone, Bitcoinsensus predicts that bullishness from the H&S pattern and broader market momentum would spur a breakout, specifically in the next seven days.

With the outburst, the market watcher expects a rally to between $0.42 and $0.43, where the next supply zone lies. From the current price of $0.21, the rally will culminate in a 100% and 104% uptick.

Remarkably, Dogecoin price predictions are higher. For one, analyst Javon Marks predicted a price swell to $0.65. In addition, market watcher Chris called for a higher target of $1 by September 2025. Nonetheless, analyst Ali Martinez has identified the resistance at $0.26 as a near-term barrier to higher prices.