Dogecoin slipped 7% early this week, wiping out much of its gains from last Friday. But a pair of chart watchers say the pullback could be brief.<\/p>\n
According to analysis from Jake Wujastyk, the meme token is poised for a sharp climb once key levels hold. Based on reports from fellow analyst Bitcoinsensus<\/a>, there\u2019s even more upside sketched out on detailed patterns.<\/p>\n Jake Wujastyk spotted a descending triangle that began forming after Dogecoin<\/a> hit $0.26 on May 11. Prices swung between the upper resistance line and a lower support line, tightening the wedge. Earlier, DOGE surged 8% in a single session, pushing near the top trend line.<\/p>\n Daily Trend Break Opportunity on $DOGE<\/a> #Dogecoin<\/a> has been slightly pulling back in a very healthy manner, preparing for the next major breakout<\/p>\n The anticipated breakout is expected to happen within the next 7 days, with a retest of the trendline for confirmation.<\/p>\n Next\u2026 pic.twitter.com\/tykuWOfAbs<\/a><\/p>\n \u2014 Bitcoinsensus (@Bitcoinsensus) May 19, 2025<\/a><\/p>\n\n Now the coin has dipped back into the wedge, but it\u2019s still trading between those two lines. If the pattern breaks upward, Wujastyk argues that it could set the stage for a rapid move higher. Volume hasn\u2019t spiked yet, so the setup isn\u2019t sealed. But the shape of the chart suggests potential for a breakout.<\/p>\n #Dogecoin<\/a> There\u2019s no way I couldn\u2019t take this trade with a chart that looks like this.<\/p>\n Target is a double here around 45 cents. pic.twitter.com\/HxbrFVseiv<\/a><\/p>\nChart Pattern Signals Potential Breakout<\/strong><\/h2>\n