Is DOGE about to explode in the market? Analyst warns that the key level of 0.22 may trigger a 40% big pump.

The price of DOGE is currently in a critical compression phase, trading around $0.22. Although it has risen by 1.02% over the past 24 hours, it is still down about 10% over the week and has fallen 22% over the month. Analysts point out that the current descending triangle pattern indicates a significant breakthrough is imminent in the market. If long positions make a strong push, DOGE could rise by 40% to $0.29; conversely, a fall below support may trigger a drop to $0.19.

Descending Triangle Compression: Breakthrough Imminent

The technical chart shows that the DOGE price is currently in a descending triangle pattern, with resistance at $0.24 and support at $0.22. This pattern often appears before significant volatility, with lower highs pressing against horizontal support.

Recent trading volume continues to decline, indicating that the market has entered a consolidation phase. Analysts believe that as the price approaches the apex of the triangle, the likelihood of a breakout will significantly increase.

Technical Indicator Signal Release

Fibonacci retracement levels: The 0.5 retracement level at 0.22 USD is currently providing support, while the resistance level is at the 0.618 retracement level at 0.23 USD. If the support fails, the price could fall to the 0.236 retracement level at 0.19 USD.

Bollinger Bands: Volatility is gradually narrowing, indicating an impending directional trend.

MACD: Momentum is approaching balance, any breakout may trigger a trend reversal.

The trading volume trend indicates that the current low volatility period may be a prelude to price discovery, creating conditions for a strong movement.

The long-term structure still looks bullish

(Source: Trading View)

Despite short-term pressure, the weekly chart shows that DOGE has formed a series of higher lows since the beginning of 2025, maintaining a long-term upward trend.

Market analyst Shan Specter pointed out that the current consolidation phase resembles a "reset" before a rise, with long-term targets set in the range of $0.70–$1.30. He emphasized that the continued support from Tesla CEO Elon Musk remains a key factor in maintaining investor confidence.

Key Price Levels and Trend Outlook

Bullish scenario: Holding above $0.22 and breaking through the $0.24 resistance, with a short-term target of $0.29. If momentum continues, further evaluation of upside potential will be conducted.

Bearish scenario: If it breaks below the 0.22 USD support, the price may quickly dip to 0.19 USD, corresponding to an important Fibonacci support level.

As of the time of writing, DOGE is at 0.22 USD, and the market is waiting for the final confirmation of the breakout direction.

Conclusion

DOGE is at a critical moment facing a technical inflection point. The short-term trend will be determined by the defense situation at the $0.22 support level, while the long-term structure remains healthy. Investors should closely monitor changes in trading volume and technical indicator signals, as the upcoming breakout may determine the trend of DOGE in the coming months. For more real-time market data and on-chain analysis, please follow the official Gate platform.