Dogecoin has broken out of a 5-wave descending wedge formation, triggering a bullish trend reversal that mirrors a previous pattern from late 2024 which preceded a substantial rally.
The Stochastic RSI indicator transitioning out of oversold territory on the bi-weekly timeframe underscores building buying pressure and validates the technical breakout.
Market momentum is accelerating with Dogecoin recording a 3.72% 24-hour price gain and a 25.24% weekly surge, as trading volume spikes to $11.26 billion indicating renewed investor interest.
Technical analysis projects potential upside targeting the $0.36-$0.42 price range, with current market dynamics favoring continued upward trajectory.