Expert Shares Short-Term Dogecoin (DOGE) Price Prediction: Here’s the Target

Dogecoin (DOGE) is exhibiting signs of a potential breakout, with crucial resistance levels to monitor. Crypto analyst CW (@CW8900) suggests that DOGE is surpassing the first major sell wall and could embark on a rally.

Consequently, if the breakout persists, the immediate price target stands at $0.70, where another sell wall awaits. Market conditions and past accumulation zones support this potential movement, although DOGE must overcome critical resistance points to maintain upward momentum.

DOGE's present price action indicates a breakout from a descending wedge pattern, a structure known to signal bullish reversals. The 1D timeframe analysis shared by CW highlights a series of lower highs and lower lows, hinting at price compression. As the wedge converges, a breakout scenario becomes more plausible.

$DOGE is breaking the first sell wall. And if it breaks that, the next is the upper line of the convergence.
The rally may have already started. And the short term target is $0.7, where the sell wall is.
After a slight correction from that sell wall, the real bull market will… pic.twitter.com/M0qWL3kPxf

— CW (@CW8900) February 12, 2025

The lower boundary of this pattern has acted as robust support, with multiple retests confirming buying interest. Recent price action aligns with historical accumulation zones, indicating that institutional and retail buyers are entering the market. If DOGE successfully breaches the upper convergence trendline, the price could surge towards key resistance levels.

Key Dogecoin Price Levels to Observe

Dogecoin's price movement is influenced by distinct support and resistance levels that guide market direction. The support range between $0.10 and $0.12 has historically been an accumulation zone, fostering previous rallies, while $0.20 serves as a psychological benchmark, previously acting as interim support.

On the resistance side, the initial hurdle lies between $0.30 and $0.35, identified by CW as a crucial sell wall where traders may sell their positions. The following major barrier is positioned between $0.60 and $0.70, coinciding with historical supply zones and aligning with CW's projected short-term price target.

If DOGE surpasses this range, momentum could propel prices beyond $0.75, paving the way for further bullish advances. CW's analysis also considers volume trends, which play a vital role in validating breakouts. A recent spike in trading volume supports the bullish case.

Sustained above-average volume would further substantiate DOGE's potential upward trajectory. Additionally, the price action suggests a curved breakout trajectory, which could yield parabolic gains if momentum persists.

Read also: This Chart Pattern Signals an XRP Price Rally to $15

Short-Term Outlook for DOGE

DOGE's immediate hurdle is breaking beyond the $0.30 – $0.35 resistance zone. If successful, the rally could extend to $0.70, as CW predicts. However, a temporary correction from that level is probable before DOGE enters a more sustained bullish phase.

Currently, Dogecoin trades at $0.2555, reflecting a 1.74% gain in the past day and a 0.35% decline over the past week, according to CoinGecko. The next few days will be crucial in determining whether DOGE can maintain upward momentum and confirm its breakout potential.