Technical charts suggest Dogecoin (DOGE) may be on the verge of a major breakout, according to crypto analysts.
The completion of a corrective phase near the $0.15 region and a sustained price above the 0.786 Fibonacci retracement are seen as key factors for DOGE's bullish momentum.
A doubling in price is anticipated before encountering the next major resistance near $0.3552-$0.36, with $0.36 being the inflection point for reclaiming historic highs.
An analysis indicates a classical falling wedge formation and the possibility of DOGE rallying towards $0.22-$0.25 in the coming weeks.