Dogecoin is making waves once again, rebounding to stabilize around $0.170 after a tumultuous day in the crypto markets. This comes on the heels of a sharp dive to session lows, which saw the meme coin teeter dangerously close to $0.16 before finding its footing. The stabilization isn’t just a blip—it’s part of a larger pattern that has analysts buzzing about the potential for a significant price swing, possibly up to 60%. As explored in our recent coverage of Dogecoin Shows ‘Higher-Highs’ Price Action in Short-Term Relief for Bulls, this pattern is consistent with recent bullish trends observed in the market.
The Triangle Tightens
The buzzword of the day? Symmetrical triangle. For those seasoned in technical analysis, this is a pattern that suggests an imminent breakout, though the direction remains anyone’s guess. “We’re seeing Dogecoin coil up like a spring,” says crypto analyst Jane McAllister, who has been tracking DOGE’s movements closely. “The compressing volume and narrowing volatility are classic indicators of a market gearing up for a big move.”
Dogecoin’s latest dance with the symmetrical triangle isn’t happening in a vacuum. The broader crypto market is jittery, thanks in part to looming macroeconomic shifts. The Federal Reserve’s upcoming policy guidance has traders on edge, with risk assets generally under pressure. Yet, for those eyeing DOGE, this tension could spell opportunity—or risk. “It’s high-stakes poker right now,” McAllister adds, “and DOGE is holding a wildcard.”
Price Action and Market Moves
In the past 24 hours, DOGE has moved within a modest range of 2.7%, fluctuating between $0.167 and $0.172. A notable dip of 1.8% occurred at 04:00, only to be followed by a robust rebound during the 07:00 hour, where trading volume surged to 248 million units. This activity has reinforced $0.168 as a critical support level, providing a foundation for subsequent price movements. For more on Dogecoin’s recent price dynamics, see Dogecoin Jumps 5% as V-Shaped Recovery Shows Rising Demand.
Consolidation has since become the name of the game, with prices hovering between $0.170 and $0.172. The $0.172 mark has proven to be a tough nut to crack, with attempts to break above this resistance level being met with a hefty 193 million in selling volume during the 13:00 hour. A late-session dip saw another spike in trading activity, but DOGE held its ground, refusing to dip below $0.170.
Historical Context and Future Implications
Dogecoin, originally conceived as a joke, has defied expectations time and again. The current symmetrical triangle pattern is not without precedent; such formations have historically led to substantial price moves. Whether Dogecoin will rocket upwards or take a nosedive remains to be seen, but the potential for a 60% swing in either direction is enough to keep traders on their toes.
Technical indicators paint a picture of a market in waiting. The Relative Strength Index (RSI) is hovering near the midpoint at 50, while the Moving Average Convergence Divergence (MACD) is flatlining, both typical of a compression phase. As the market holds its breath, traders are left to ponder the key question: which way will Dogecoin break?
Looking Ahead
As June 2025 unfolds, all eyes will be on the Federal Reserve’s next moves. Any signals of tightening or loosening monetary policy could act as the catalyst that sends Dogecoin—and the broader crypto market—into motion. “We’re in a period of watchful waiting,” says McAllister. “The next few weeks could be decisive for DOGE and other cryptocurrencies.”
While the future remains uncertain, one thing is clear: Dogecoin is once again the talk of the town. Whether it will live up to its hype with a dramatic breakout or leave traders hanging in suspense is a question that only time will answer. But for now, the meme coin holds its ground, a testament to its resilience in the face of market volatility. And that’s where it gets interesting.
Source
This article is based on: Dogecoin Rebounds From 16 Cents as Triangle Pattern Signals 60% Price Swing
Further Reading
Deepen your understanding with these related articles:
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- Dogecoin Drops 7% After Brief Rally Amid Rising Hopes of a DOGE ETF
- Musk’s X to Debut Trading and Payment System. But Where is Dogecoin?
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
