Dogecoin Bullish Flag Signals 27% Breakout Toward $0.30 — Will It Hold?

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3 Reasons Dogecoin May Climb Another 50% in May 2025

  • Dogecoin forms a bullish flag pattern on the 2-hour chart, signaling a potential breakout.
  • A move above $0.2328 could trigger gains toward $0.27 and $0.30—over 27% upside.
  • DOGE shows 0.9% stronger momentum vs. Bitcoin, supported by rising short-term buying volume.

Dogecoin (DOGE) appears to be on the cusp of a significant price movement, as technical indicators suggest the cryptocurrency is forming a bullish flag pattern. The current setup, observed on the two-hour chart, points toward a possible breakout that could propel the asset toward the $0.30 mark, a level not seen since earlier this year. This development comes amid a modest price increase of 2.69% over the past 24 hours, pushing DOGE to $0.2268 at the time of writing.

Source: CoinMarketCap

Bullish Flag Formation Sets Stage for 27% Dogecoin Rally Toward $0.30

A closer examination of recent price action reveals Dogecoin has been trending in a falling channel since mid-May. The formation, typically a continuation pattern, emerged following a steep rally earlier in the month. The flag-like pattern typically precedes resumption of the previous trend, in this instance, higher. A breakout above the top of this channel would fulfill the bullish signal.

Source: (X)

The chart shows price rebounding from a local support level of $0.2188, marking a key zone where buyers have previously stepped in. Resistance stands at $0.2328, which will likely serve as the immediate hurdle for any bullish breakout attempt. Should DOGE clear this level, further upside toward $0.27 and eventually $0.30 could come into play, representing a potential gain of over 27% from current levels.

Technical Outlook and Price Momentum

DOGE has recently performed better than Bitcoin in the short run, with an advantage of 0.9%. This stronger position than BTC suggests that more traders are interested in trading Dogecoin. Buying volume is recovering slowly on lower time frames, suggesting the right conditions for the breakout to be lasting.

Based on the chart, the target range from $0.2255 to $0.30 comes from the measured move of the flag pattern that started after the first leg. Yet, it should be noted that for this to happen, the market would need to keep up high volumes and give longer-term backings.

Cautious Optimism Prevails as DOGE Eyes Breakout 

Despite the favorable technical set-up, a number of risks continue to exist. If the $0.2188 level is breached, short-term attitudes could turn negative and allow the asset to move back to $0.2100. The path of Bitcoin and wider economic events such as monetary policy changes, can affect the coming trend.

At the moment, experts are optimistic about Dogecoin, as the flag pattern outlines a set path for breaking out. Over the next trading sessions, traders should observe the $0.2328 level to see if it is being confirmed.

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