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Dogecoin slipped 7% early this week, wiping out much of its gains from last Friday. But a pair of chart watchers say the pullback could be brief.
According to analysis from Jake Wujastyk, the meme token is poised for a sharp climb once key levels hold. Based on reports from fellow analyst Bitcoinsensus, there’s even more upside sketched out on detailed patterns.
Chart Pattern Signals Potential Breakout
Jake Wujastyk spotted a descending triangle that began forming after Dogecoin hit $0.26 on May 11. Prices swung between the upper resistance line and a lower support line, tightening the wedge. Earlier, DOGE surged 8% in a single session, pushing near the top trend line.
Daily Trend Break Opportunity on $DOGE 🔥#Dogecoin has been slightly pulling back in a very healthy manner, preparing for the next major breakout💹
The anticipated breakout is expected to happen within the next 7 days, with a retest of the trendline for confirmation.
Next… pic.twitter.com/tykuWOfAbs
— Bitcoinsensus (@Bitcoinsensus) May 19, 2025
Now the coin has dipped back into the wedge, but it’s still trading between those two lines. If the pattern breaks upward, Wujastyk argues that it could set the stage for a rapid move higher. Volume hasn’t spiked yet, so the setup isn’t sealed. But the shape of the chart suggests potential for a breakout.
#Dogecoin There’s no way I couldn’t take this trade with a chart that looks like this.
Target is a double here around 45 cents. pic.twitter.com/HxbrFVseiv
— Jake Wujastyk (@Jake__Wujastyk) May 18, 2025
Analyst Forecasts Rapid Price Rise
Based on reports, Wujastyk expects a “twofold rally” from current levels. That means pushing from around $0.21 today to roughly $0.45. That’s about 114% higher. He’s confident there’s “no way you won’t take a Dogecoin trade” if the chart action holds.
His call comes as the token struggles this week, down 7% in one day and flirting with erasing the prior week’s gains. Wujastyk’s bullish view hinges on a bounce off the wedge’s support, followed by a strong push through resistance. If it happens, traders could see quick gains, he says.
Mixed Targets Highlight Uncertainty
Another voice, analyst Bitcoinsensus, sees a similar move to above $0.40 but on a slightly different pattern. He points to an inverse head‑and‑shoulders that formed between March and early May.
The left shoulder came from a March 11 low at $0.14, the head from an April 7 dip to $0.13, and the right shoulder near $0.16 on May 6. After the pattern broke out, DOGE hit a trendline that’s capped gains since December’s $0.48 high.
Even with a pullback from that supply zone, Bitcoinsensus says a further push could launch Dogecoin back toward $0.42–$0.43 within seven days. Those targets suggest a 100–104% jump from today’s price.
Featured image from Unsplash, chart from TradingView
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
