Dogecoin Heading To $0.08? Analyst Thinks So—Here’s Why
A cryptocurrency analyst has identified how Dogecoin might be on observe for $0.08 primarily based on this breakout from a consolidation channel.
Dogecoin Has Fallen Under An Ascending Channel
In a brand new post on X, analyst Ali Martinez has talked about the place Dogecoin might be heading primarily based on a technical evaluation (TA) sample. The sample in query is an “Ascending Channel,” which is a kind of Parallel Channel.
Parallel Channels seem every time an asset’s worth observes consolidation between two parallel trendlines. When these strains have a constructive slope, the sample is called an Ascending Channel.
This channel corresponds to consolidation that happens towards some internet upside. Like different such patterns in TA, the higher line acts a supply of resistance, whereas the decrease one gives help.
A escape of both of those boundaries can sign a continuation of pattern in that route. This signifies that a surge above the channel could also be a bullish sign, whereas a drop beneath it a bearish one.
Like the Ascending Channel, there’s additionally a sample in TA referred to as the Descending Channel, rising when the alternative kind of consolidation takes place. That is, when the worth strikes to a internet draw back between two parallel trendlines with a detrimental slope.
Until not too long ago, Dogecoin had been buying and selling inside a multi-year Ascending Channel on the 3-day timeframe. The memecoin capped off 2025 with a breakout from it, because the chart shared by Martinez reveals.
From the above graph, it’s obvious that Dogecoin has escaped the lengthy Ascending Channel with a fall beneath the help trendline. The memecoin has since been following a steep downward trajectory, a possible signal that the bearish breakout is in impact.
Breakouts from Parallel Channels are thought of prone to find yourself being of the identical top as the gap between the trendlines. Based on this, the analyst has put the $0.08 goal for DOGE. It now stays to be seen whether or not the asset will comply with this trajectory or if it’s going to see a rebound earlier than lengthy.
In one other X post, Martinez has highlighted how Bitcoin, the primary cryptocurrency, has additionally been buying and selling inside a TA consolidation sample not too long ago.
As displayed within the chart, the sample within the case of Bitcoin is a Symmetrical Triangle, a channel that includes two strains converging at a roughly equal and reverse slope. BTC’s 4-hour worth has been shifting sideways on this sample not too long ago and primarily based on its top, the analyst thinks that the coin could also be arrange for a 15% transfer.
DOGE Price
At the time of writing, Dogecoin is floating round $0.13, up greater than 8% during the last 24 hours.
