Ah, Dogecoin, that whimsical creature of the crypto wilds! Since the 20th of May, it has perched above the $0.22 mark, like a cat on a windowsill, only to leap back after a brief dip. On the 23rd, it flirted with $0.25, then gracefully eased into the weekend, as if it were a dancer at a ball. In the last 24 hours, it has pranced up by 4.1%. Over the week, a modest rise of 5%—not bad for a coin that sometimes seems to have the attention span of a goldfish! 🐟
The Triangle Pattern
According to the sage of TradingView, Akbar Karimzsfeh, our dear Dogecoin has been tracing a long, tightening triangle since its glorious peak of $0.73536 on May 3, 2021. That high was followed by a dramatic plunge to $0.048 on June 13, 2022. Since then, every attempt to break lower—on June 5, August 14, and October 9 of 2023—has been thwarted, like a cat trying to catch a laser pointer. The lines of the triangle are closing in, and when they meet, a sharp move is likely. Or perhaps just a sharp intake of breath from anxious investors! 😱
Key Resistance Levels
Data suggests that the upper trendline of our triangle also aligns with the top of a large “cup” pattern around $0.4916. There was a valiant attempt at a breakout in December 2024, where prices nearly kissed that $0.4916 mark before being pushed back, like a child denied dessert. After that, DOGE slid down to $0.13, but it has since regained some ground. Yet, it must clear that $0.4916 hurdle before the bulls can truly claim victory. 🐂
In recent price moves, Dogecoin has been hovering around $0.22 between May 20 and May 26. It peaked at $0.25 on May 23, only to slip afterward, like a soap opera star in a dramatic twist. The last 24-hour gain of 4.1% shows it can bounce from support, while the 5% weekly rise indicates steady buying, even with some midweek pullbacks. Traders are now watching for a daily close above $0.50 as a sign that the long squeeze is over. Or perhaps just a sign that they need more coffee! ☕
On-chain data backs up the price action, revealing that new addresses have jumped by 102.40% in the past week. Active addresses climbed 111.32%, and zero balance addresses went up 155.45%. This suggests more people are sending small amounts of DOGE or testing the network, like kids testing the waters before diving in. It doesn’t guarantee they’re holding long term, but it does signal higher interest and activity. 📈
If Dogecoin can break above the top trendline and hold above $0.49, some optimistic souls see a move toward $3.08. That target is based on adding the triangle’s height to the breakout point. It’s a big leap, akin to a cat trying to jump to the moon! But beware, psychology and trading fees could slow that run. Yet, the pattern suggests a strong move may be on the horizon. 🌅
However, caution is still the name of the game. Wait for clear confirmation before betting on a moonshot. A slip below the lower trendline near $0.05 would turn the picture bearish, like a rainy day at the beach. For now, Dogecoin sits in the balance, squeezed between two key trendlines. Traders and fans will be watching every close above $0.49 or fall below $0.05 to gauge the next big move. So, keep your eyes peeled and your wallets ready! 🤑
Read More
- AI16Z PREDICTION. AI16Z cryptocurrency
- Best Awakened Hollyberry Build In Cookie Run Kingdom
- Best Mage Skills in Tainted Grail: The Fall of Avalon
- Tainted Grail the Fall of Avalon: Should You Turn in Vidar?
- Top 8 UFC 5 Perks Every Fighter Should Use
- USD ILS PREDICTION
- Nvidia Reports Record Q1 Revenue
- Tainted Grail: How To Find Robbie’s Grave
- Nintendo Offers Higher Margins to Japanese Retailers in Switch 2 Push
- Nintendo Switch 2 Confirms Important Child Safety Feature
2025-05-27 08:14