Once popular meme coin and still ninth-biggest cryptocurrency Dogecoin (DOGE) might be about to have its most important daily breakout since early 2023, and if you are watching the TradingView chart, there is one thing to watch for: the neckline at $0.152.
After printing an almost textbook inverse head-and-shoulders formation with a bottom at $0.117 and two symmetrical shoulders above $0.138, DOGE is now pressing up against the last major resistance that separates it from a potential +22% rally.Â
If the breakout is above the $0.152 neckline, technical projections suggest a move toward the $0.178-$0.186 range.
The right shoulder popped up fast, picking up momentum from under $0.13 with rising volume and confirmation of previous support flips. The consolidation under $0.152 is similar to what we saw during DOGE’s earlier rallies, where there was a big breakout after a period of tight compression.
Levels to watch for Dogecoin
So, as long as the price of Dogecoin closes above $0.152 today or there is a high-volume rejection, then the next move is up. In the bullish case, the target price from this pattern is about $0.186, which would fix weeks of loss in just a few hours.
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But if DOGE does not break through, it might go back to $0.138 or even $0.117, and that would cancel out the whole setup. Either way, Dogecoin’s chart is close to igniting the next retail craze. If DOGE flips $0.152 with conviction, the meme coin king may have something new to bark about.