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Dogecoin (DOGE), currently trading around US$0.17, is displaying strong technical signals, including a falling wedge breakout and a bullish RSI divergence, two patterns that have previously preceded significant rallies. According to analysts like Crypto Bio and Trader Tardigrade, these signals could lead DOGE to retest US$0.30, US$0.42, or even US$0.50 in the next few months.
Dogecoin (DOGE), the meme-inspired cryptocurrency that gained fame for its viral rallies, is once again on investors’ radar. This time, it’s not fueled by tweets or trends, but by strong technical signals that hint at a potentially major price breakout.
As of now, DOGE is trading at US$0.174, having gained 10% in the past week and 11% in the past 14 days, showing signs of fresh momentum after months of consolidation.
According to Crypto Bio analysis, two main technical patterns currently attracting attention are the bullish RSI divergence and the falling wedge breakout. The developments, combined with strong historical support levels and macroeconomic sentiment, could see DOGE tested toward the US$0.50 mark in the months ahead.
Between June and August 2024, Dogecoin fluctuated in the US$0.07-US$0.09 range, while the RSI printed higher lows. This divergence had hinted at a rally that would take DOGE above US$0.40 by December 2024.
From March to April 2025, the same diverging price action occurred when DOGE reached US$0.13, with the RSI making higher lows, indicating that there was strength that could spark a potential breakout.
According to trader analyst Tardigrade (@TATrader_Alan), the chart depicts a third falling wedge breakout signal on the DOGE/BTC pair. Each breakout from this pattern has previously induced major pumps in Dogecoin over a long period, as indicated by the green vertical arrows and significant jumps on the market cap overlay.
Dogecoin has recently broken out of the "falling wedge" pattern that has kept it in the downtrend for months. Resistance levels were tested at the following points: February US$0.28 and April US$0.16.
Market behavior suggests that the breakout will likely repeat earlier setups, thereby fueling expectations for DOGE value appreciation against Bitcoin in the near future. Trader Tardigrade emphasizes, "This time is no different."
Continuing with the long-term parabolic trend, another partially known powerful technical indicator is the parabolic trendline for Dogecoin, which dates back to 2022. According to trader "abermix,” DOGE has tested and respected this curve multiple times at US$0.06, US$0.08, and most recently, US$0.14, rebounding each time.
This trendline suggests that, despite its volatility, Dogecoin maintains long-term support. While DOGE is trading just below both its short-term and long-term exponential moving averages (EMAs), the possibility of a reversal will remain open if buying pressure increases.
With social media buzzing, it is once again time to ask: How realistic are "Dogecoin millionaires?" If DOGE hits US$0.50:
A US$10,000 investment at US$0.17 would have grown to approximately US$27,530 and yielded a profit of US$17,530.
Thus, to become a millionaire, an investor would need 2 million DOGE today, worth roughly US$340,000.
Being a DOGE millionaire, while possible, would require a sizeable investment upfront. For most retail investors, it is more akin to a journey of gradual gains from favored setups than one of sudden wealth.
Crypto Bio states regarding the entire calculation and chances above, "millionaires will be made within two to three months."
Some occurrences that could break the momentum include macroeconomic events, news surrounding regulatory changes, or a market correction acting in concert. Investors should consider the technical setups and the associated risk management.
Dogecoin is now forming a solid case for rallying toward US$0.30, US$0.42, and perhaps even US$0.50 over the next few months, based on what the charts are showing right now: bullish RSI divergence, breakout from a falling wedge, and long-term trendlines supporting this rally. Historical data should be considered here, especially since there has been a recent close correlation with other setups, which have previously produced gains of 100+ late in 2024.
