Dogecoin Eyes Explosive Breakout: Will a Move Above $0.23 Spark a Bull Run?

DOGE eyes breakout at $0.23, this could spark a fresh rally soon.

Fibonacci levels point to $0.31 as the next big target if DOGE breaks above $0.23 resistance.

MACD flips bullish and RSI recovers, signaling rising momentum for Dogecoin’s potential breakout.

Dogecoin is heating up as it hovers near a key breakout point at $0.23. With price coiling inside a symmetrical triangle and momentum indicators turning bullish, all eyes are on DOGE for a potential explosive move in the coming days.

Price Action Tightens Near Apex

According to a chart shared by Ali Martinez on X, Dogecoin has traded inside a symmetrical triangle since mid-July 2025. The setup shows lower highs and higher lows compressing toward the triangle apex projected for early September.

As at press time, Dogecoin (DOGE) is trading at $0.2187, a 3.34% increase in the last 24 hours and nearly 2% over the past week.If DOGE manages to break the resistance at $0.23, it could kick off an upward move. The biggest target remains the yearly high near $0.31.

Long-Term Structure Backs the Breakout

Weekly chart analysis shared by GalaxyBTC shows Dogecoin forming two major falling wedges since 2017. The first pattern led to the explosive rally from $0.00271 to $0.72931 in early 2021. After a multi-year correction, DOGE broke out of a second wedge in mid-2025.

Source: Galaxy Via X

Price retested the breakout zone and formed a higher low structure. This repetition of breakout-retest behavior mirrors the 2020 setup. The latest weekly high reached $0.35 before price pulled back toward the wedge’s upper trendline.

Support levels remain firm at $0.16555, $0.10039, and $0.04335—each tied to previous accumulation zones. This structure continues to show long-term strength as DOGE holds above key trendlines.

Indicators Show Momentum Building

The 4-hour MACD just turned positive, with the MACD line crossing above the signal at 0.00042. This marks a shift from recent bearish momentum. The RSI currently reads 46.72, recovering from a dip below 30 on August 25.

Volume remains steady at 45.21M, with recent price action showing reduced volatility. Market cap data from CoinMarketCap shows a $3 billion swing between August 21 and 27, peaking near $36B and stabilizing at $33B.

Overall, Dogecoin remains in a tight consolidation zone. Technical indicators,chart patterns, and momentum indicators now align. A breakout above $0.23 could trigger move toward the $0.26-$0.28 range.

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