Dogecoin is once again making headlines, this time for a technically sound formation that could soon unleash a breakout. According to the daily chart shared by technical analyst Trader Tardigrade, Doge coin price has developed a textbook ascending triangle pattern.
This is a bullish structure that often precedes sharp upward price moves. With four confirmed touches inside the formation, the setup now points to a projected breakout target of $0.285.
The ascending triangle pattern is one of the most reliable continuation patterns in classical technical analysis. It typically forms during an uptrend when the market pauses but fails to reverse. Instead, the price compresses between a flat resistance line and a rising support trendline.
This builds pressure for a breakout. In Dogecoin’s case, the resistance zone sits just below the $0.243–$0.245 level, which has rejected multiple bullish advances since early May.
Dogecoin Price Shows A Five-Touch PatternÂ
A closer inspection of the chart reveals a well-defined five-touch structure within the triangle. The pattern began forming after a large bullish engulfing candle on May 8, which marked the first string high. This was followed by a retracement to the lower boundary of the triangle (point 2), a return to the resistance (point 3), and another pullback to the rising trendline (point 4). Now, Dogecoin (DOGE) appears to be moving towards the fifth touch at the triangle’s apex, where analysts typically anticipate a move.Â
What makes the setup great is its clean geometry and symmetry. These are two key characteristics that strengthen the reliability of ascending triangles. The DOGE price action within the triangle has compressed steadily, suggesting that traders are waiting for a catalyst to tip the balance. Ultimately, the projected move gives a bullish target of $0.285.Â
If this scenario plays out, it would represent a nearly 25% move from current levels near $0.228. It could confirm the technical thesis and open the door for additional upside. The $0.285 region also coincides with previous supply zones from March and early April. Meaning a successful breakout could flip these areas into new support and sustain a larger uptrend.
Volume Remains Important for DOGE
Volume remains a key factor to watch. Ascending triangle breakouts tend to be most effective when confirmed by a surge in trading volume. They indicate genuine participation and follow-through on the part of bulls. Without volume, fakeouts or failed breakouts become more likely. That said, Dogecoin’s social sentiment remains high, and speculative interest tends to return quickly when chart patterns align with meme-driven momentum.Â
As June approaches, all eyes are on the triangle’s apex. If Dogecoin can move through the horizontal resistance and maintain momentum, a move to $0.285 could materialize faster than expected. Traders should prepare for increased volatility, as breakout attempts in meme coins often lead to rapid and emotional market responses.Â
With four confirmed touches inside a mature ascending triangle and a technical target in sight, Dogecoin price is positioned for what could be one of its most notable breakouts of the summer.Â
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