- Dogecoin price forms an ascending broadening wedge on the weekly chart with a projected $1.40 target.
- DOGE price trades in a $0.16–$0.29 range since early 2025, showing accumulation signals.
- A breakout above $0.29 could drive DOGE toward $0.50 before testing higher levels.
Dogecoin price is gaining attention as chart analysts point to a possible breakout. The weekly chart shows a broadening wedge pattern, where past moves have led to large upward surges. With growing buying pressure and rising support levels, traders are now watching the $1.40 target as momentum builds.
Broadening Wedge Formation Sets Dogecoin Price Target at $1.40
Trader Tardigrade, a market analyst on X, outlined an ascending broadening wedge on Dogecoin’s weekly chart. This pattern is defined by higher highs and higher lows, with widening price movements suggesting increasing volatility. Historical data shows two major upward moves within this formation, returning +120% and +190% gains in earlier cycles.
The current wedge formation projects a possible rally toward $1.40 if the bullish momentum holds. Dogecoin has been trading between $0.21 and $0.30 since February, with recent price action forming higher lows. Analysts see this as an indication of stronger buyer interest, with $0.25 acting as a key breakout level. If cleared, the chart suggests further moves toward $0.30 and potentially $0.50 before retesting higher levels.
At present, Dogecoin trades near $0.2230. The RSI stands around 52, showing neutral momentum and suggesting that accumulation continues before a decisive move. The wedge formation has been linked to cyclical expansions in the past, supporting the view of a bullish setup. However, as with any broadening wedge, risks remain on both sides, with a potential drop to the $0.12–$0.15 zone if support fails.
Source: X/Trader Tardigrade
Dogecoin has remained in an accumulation phase between $0.16 and $0.29 since early 2025. This consolidation zone has been tested several times, with the price forming a horizontal channel. Within this range, higher lows have developed, showing that buyers are steadily building positions.
A breakout above $0.29 could open the path to $0.50, aligning with Wyckoff’s accumulation theory. This theory suggests that accumulation often leads to a markup phase. If Dogecoin follows this pattern, the next upward cycle could extend toward the projected $1.40 target. Traders continue to monitor volume levels as a breakout confirmation, since rising volume would support bullish continuation.
Source: TradingView
Support is currently placed near $0.219, marking the lower bound of the accumulation zone. A breakdown under this level would weaken the bullish setup and increase the probability of retesting lower support zones. For now, the chart structure shows a gradual build-up, with market participants awaiting a strong breakout signal.
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