Dogecoin Eyes Breakout as Symmetrical Triangle Formation Hints at Volatility Surge

Dogecoin (DOGE) is showing signs of a potential breakout as it trades around $0.193, forming a symmetrical triangle pattern — a technical setup often preceding major volatility. Although the direction of the next move remains uncertain, this pattern typically signals an imminent shift in momentum. DOGE has gained nearly 2% in the past 24 hours, displaying stronger resilience than Shiba Inu (SHIB) during recent market fluctuations.

Despite the short-term uptick, DOGE continues to face resistance beneath its 100-day and 200-day moving averages, positioned between $0.22 and $0.23. A decisive breakout above these levels could confirm renewed bullish strength. Currently, the coin is consolidating tightly between $0.19 and $0.20, a range that historically precedes significant price action. Analysts note that a breakout above $0.205–$0.21 could open the door to $0.30, aligning with the 200-day MA, while a drop below $0.18 may trigger a decline toward $0.16, reigniting bearish sentiment.

The Relative Strength Index (RSI) sits at 40.8, indicating that DOGE still has room to move upward before becoming overbought. However, the broader market outlook remains uncertain. Since its last major peak, Dogecoin’s trading volume profile has thinned, suggesting that traders remain cautious after recent corrections across the crypto market.

Comparatively, DOGE’s current symmetrical pattern presents a more balanced risk-reward setup than SHIB’s descending trend, reflecting growing confidence among bulls. If momentum builds and the price breaks key resistance levels, Dogecoin could soon regain its bullish footing and test higher zones, reinforcing its reputation as one of the most resilient meme coins in the market.