Dogecoin rallied through key technical levels, reviving comparisons to the meme coin’s 2021 ascent and forcing analysts to reassess short-term upside. The move followed sustained support near $0,14–$0,15 and a series of breakouts that traders interpret as a structural shift.
Chart studies cited by market commentators showed multiple classical bullish formations: falling wedges with bullish divergence, cup‑and‑handle shapes, Wyckoff-like accumulation and a recent golden cross on longer moving averages. Analysts including the one known as Charting Guy projected targets as high as $0,80 and even $1, conditional on a clean continuation from current levels.
Price action validated several of those signals with a confirmed move above $0,195 and $0,21 on heavy volume, which traders took as the decisive breakout. Short‑term targets mentioned in the sources were $0,26, $0,33 and $0,40; some analysts retained the more ambitious $0,80–$1 scenario if the pattern repeats fully. The Relative Strength Index climbed to 65, the highest since September, while MACD widened above its signal line — indicators that technicians read as confirmation of momentum.
The development matters because, if momentum holds, the market could replay leverage-driven squeezes that amplified the prior cycle — a dynamic that has direct implications for volatility and derivatives positioning.
Positioning, whales and the liquidation reset
Market structure also shifted as whale accumulation and large‑size flows returned. One report highlighted a 5,5% intraday surge linked to concentrated buying, and another argued that a sharp 11.900% liquidation imbalance earlier in the cycle likely purged excess leverage and reset risk positioning. Sources noted that current support bands around $0,18–$0,22 held during those moves, and some analysts suggested the $0,11 drop last month represented the cycle low.
Those developments changed the narrative from distribution to consolidation guarded by stronger hands. Observers warned, however, that whale sales and macro headwinds remain potential sources of volatility; clearing of speculative long and short positions can amplify both upswings and pullbacks.
Investors are now turning their attention to whether Dogecoin can sustain the breakout above $0,21 and hold momentum through the coming weeks, which will test whether the current setup truly mirrors 2021 or resolves as a shorter-lived rally. If technical indicators and heavy‑volume validation persist, derivative markets and leveraged positions will likely dictate the scale of any further advance.
