The Dogecoin price has been under intense bearish pressure so far in 2025, falling a further 10% in the last seven days. However, a popular analyst on social media platform X has pointed out a bullish pattern that could see the meme coin break away to a new all-time high price.
DOGE Price Persists In 11-Year Ascending Channel
In a Feb. 21 post on X, crypto trader Ali Martinez put forward a fresh bullish outlook for the price of Dogecoin over the next few months. According to Martinez, the largest meme coin has been trading in an ascending triangle since 2014, with its price set to rally to a new record high of $4.
The rationale behind this bullish projection is the formation of an ascending channel pattern on the Dogecoin price chart on the monthly timeframe. An ascending channel is a pattern used in technical analysis characterized by two primary (upward-sloping) trendlines; the upper line connecting the progressive swing highs and the lower line connecting the swing lows.
The asset’s price usually trades within the ascending channel, with the upper trend line acting as a resistance area and the lower boundary line acting as support. An ascending channel pattern indicates the persistence of an upward price trend, with a breakout or breakdown used to pinpoint a potential trend reversal or continuation.
Hence, investors can trade as the price oscillates between the pattern’s demand cushions and supply barriers or enter a position following a breakdown or breakout of the pattern. In the current scenario, the Dogecoin price appears to still be trading within the ascending channel after finding support and rebounding around the $0.19 level.
Martinez highlighted that if this $0.19 support area holds and history repeats itself, the price of DOGE could surge to the upper resistance trendline around $4. This rally would represent an over 1,500% rally from the current price point. On the flip side, a breach of the $0.19 support could see the Dogecoin price drop to around $0.06.
Interestingly, this bullish projection aligns with recent hypotheses in the market claiming that the altcoin season has already begun. While some of these theories postulate this current alt season will be selective, large-cap assets like Dogecoin will be expected to lead the charge.
Dogecoin Price At A Glance
As of this writing, the price of DOGE sits just above $0.24, reflecting an almost 5% decline in the past 24 hours. According to data from CoinGecko, the meme coin is down by more than 10% in the past week.
Featured image created by DALL-E, chart from TradingView
Opeyemi Sule
Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.
Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part – in fact, far from it.
Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.
When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.
Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books – ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.
Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.
Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time – he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.
Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon – cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment – spreading the crypto gospel to the rest of the world.
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