Interestingly, technical analysis suggests that Dogecoin could experience a further shakeout before eventually making a move upwards.
The annotated chart below reveals a previously completed first leg rise from April lows to the current price range, followed by the beginning of a second leg correction. The analyst expects this leg to deepen slightly towards $0.21 again before Dogecoin gains strength to attempt a breakout through the overhead resistance marked just above $0.25. If that move succeeds, the next logical price target, according to Trader Tardigrade, sits around $0.4. a level not seen since January 2025.
The resistance zone around $0.25, highlighted in the chart above with a thick horizontal red bar, represents a reactive area of support turned resistance. Notably, this level acted as much of a support level during Dogecoin’s initial decline in February, before eventually caving in due to the intense selling pressure at the time. That breakdown shifted the market structure, turning what was a safety net into resistance.
