Dogecoin (DOGE) memecoin is back in the spotlight, not because of memes or tweets this time, but because of what the charts are showing. According to crypto analyst Ali Martinez, DOGE could be gearing up for a big move, maybe even around 60%, if it breaks out of a key price range in the next few days.
In a post shared on June 19, Martinez pointed to a symmetrical triangle pattern forming on the daily chart, a structure that usually precedes a strong breakout, though not necessarily in a specific direction.
According to him, Dogecoin is currently trapped between $0.16 and $0.22, and whichever side breaks first could dictate the trend for weeks.
“Dogecoin looks prime for a 60% price move,” Martinez wrote on X. “All you need to do is wait for a daily close outside of the $0.16 to $0.22 range to determine the direction of the trend.”
As of now, DOGE is changing hands at $0.1702, showing minor strength on the day. Dogecoin hasn’t had a great run lately. Over the past week, its price has slipped by more than 10%, and it’s down over 23% for the month. Still, it’s managing to hang on as the 9th biggest cryptocurrency, with a market value of about $25.49 billion.
What’s standing out more right now is the drop in trading. In the last 24 hours, Dogecoin’s volume has slipped over 11% to just under $905 million. That clearly shows traders are sitting on the sidelines, waiting for a solid breakout before jumping in.
Ali Martinez’s chart shows Dogecoin squeezing tighter inside a triangle pattern, with its price sitting near the lower edge. The pattern doesn’t tell us which way it’ll go next, up or down, but in the past, similar setups have often led to big breakouts. One clear example was back in early 2024, when DOGE broke out and made a strong run.
If the price can close convincingly above $0.22, the next resistance zone could fall somewhere between $0.35 and $0.38. On the flip side, a daily close below $0.16 could trigger a deeper pullback toward $0.13, especially if Bitcoin starts to slide from its current level above $109,000.
Dogecoin has always been tricky to chart. While the technicals sometimes play out, external factors, especially Elon Musk’s comments or broader meme trends, can flip the narrative in a matter of hours. That’s part of the reason why many traders are staying patient despite the textbook setup.
The pattern is there. The range is defined. But without a decisive breakout and volume to match, it’s still a waiting game.
DOGE has proven in the past that it doesn’t need much to move fast, but right now, the broader market isn’t giving it the spark. Until that changes, price is likely to keep bouncing inside the triangle, with $0.16 and $0.22 acting as the two gates to watch.
Also Read: Bitcoin, Ethereum Slip Below Max Pain Price Ahead of $4B Options Expiry
