Dogecoin Consolidates in Triangle as Analysts Say “Break $0.23 and a New Bull Run Begins”

Dogecoin trades in a triangle, with $0.23 as the key breakout level for a new rally.

MACD crossover signals show momentum building, echoing past rallies from $0.13 to $0.30.

Institutional interest grows as a $200M DOGE treasury plan and ETF filings boost optimism.

Dogecoin is consolidating within a symmetrical triangle as traders monitor the next decisive move. The token is trading at $0.2128, just above key support levels, and analysts note that a breakout above $0.23 could start a new bullish rally for the meme coin.

Market Structure and Technical Levels

Dogecoin has been trading within a symmetrical triangle on the four-hour chart since late July, according to an analysis prepared by Ali Martinez. Price has fluctuated between $0.19 and $0.29, forming a tightening range of higher lows and lower highs. Martinez stated, “Break $0.23 and a new bull run begins.”

Resistance levels are projected at $0.2431, $0.2596, $0.2823, and $0.3140, while support remains at $0.2217 and $0.21. The consolidation reflects compressing volatility as Dogecoin coils within the triangle. Recent trading activity shows bulls defending the $0.21 level, which also aligns with the 200-day exponential moving average

Source: TraderTardigrade(X)

According to analysis by Trader Tardigrade, previous MACD crossovers on the four-hour chart aligned with sharp rallies, including a move from $0.13 to $0.30 earlier this year. A similar setup is now visible, reinforcing the potential for another upward breakout.

Fundamentals and Future Outlook

Beyond technical patterns, Dogecoin has attracted renewed attention from institutional circles. Elon Musk’s attorney, Alex Spiro, is leading a new public company aiming to raise $200 million for a dedicated Dogecoin treasury. Backed by the House of Doge, the venture plans to hold DOGE as reserves while giving investors stock exposure tied to its price.

At the same time, the US SEC is reviewing standardized rules for crypto exchange-traded products (ETPs), which could accelerate ETF approvals. Grayscale, Bitwise, and Rex Shares/Osprey have already filed for Dogecoin-related funds. Analysts believe regulated products could expand DOGE’s liquidity and attract new inflows from institutional investors.

According to an observation by Trader Tardigrade, the latest MACD breakout shows early signs of momentum building. A decisive close above $0.23 could confirm the bullish breakout and set the stage for higher price targets.

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