The three-day chart displayed a three-month falling wedge pattern. Dogecoin breached the upper boundary during its recent surge, triggering an initial move toward the $0.140-$0.150 zone.
The analyst compared current action to 2024 performance, when the token moved within a multi-month falling wedge before breaking out. He suggested the price might retrace briefly to test the breakout area before the next major advance.
Why It Matters: Pattern Targets $0.20
The cryptocurrency appears to be forming a bullish pennant on the daily chart. A breakout from this formation would trigger a 40% advance toward $0.20, which was lost during early Q4 pullbacks. However, Dogecoin's price must close above $0.142 to maintain the pattern.
Ali Martinez warned the cryptocurrency is "hanging by a thread."
The market observer stressed Thursday that Dogecoin trades within critical support between local lows of $0.118 and recent highs.
A loss of this zone could prompt a retrace exceeding 40%.
The UTXO Realized Price Distribution metric cited by Martinez places the next major support around $0.073, where over 28 billion Dogecoin tokens previously changed hands.
The three-day chart shows Dogecoin traded within an ascending channel since 2023, but late 2025 corrections saw the memecoin lose the lower boundary.
Alexey Bondarev is the Head of Content at Yellow.com, having reported on crypto for the last 10 years. He specializes in in-depth Research and Learn pieces, with a focus on analytical reporting, industry context, and the bigger forces shaping crypto, from the AI era and security technologies to fintech innovation. He believes that everything digital will imminently overcome everything analogue and is working hard to make that come true.
