Dogecoin (DOGE) is showing signs of a potential breakout from a symmetrical triangle pattern, with analysts predicting a possible 16% price increase.
DOGE is currently trading around $0.17 and is close to overtaking Cardano's market cap.
Technical analysis indicates that DOGE has broken above a falling wedge formation, considered a bullish reversal signal.
DOGE is facing short-term pressure, with support at $0.143 and resistance at $0.176, but increased social engagement and accumulation suggest growing investor confidence.