The cryptocurrency world is buzzing with the latest developments surrounding Dogecoin 
$0.139586 (DOGE), as highlighted by analyst Ali Martinez who points to a symmetric triangle formation that could herald significant price movements. The consolidation of Dogecoin’s price around $0.22, just above the 0.5 Fibonacci level of $0.218, suggests a potential breakout. In the event of an upward breakout, $0.25 to $0.28 could be on the horizon, while a downward movement might target the $0.188 range.
Critical Threshold for Symmetric Triangle Breakout
According to Ali Martinez, the pivotal level to watch for Dogecoin is the 0.618 Fibonacci level at $0.233. Maintaining a hold above this threshold could propel the price to the $0.25–$0.28 range and potentially even higher to $0.30–$0.32 if momentum strengthens. This scenario keeps the long-term psychological level of $0.50 in play, while a decisive break in the opposite direction might lead to a retreat to $0.188.
From a weekly perspective, Dogecoin shows a bottom formation above the rising trendline maintained since early 2023. The Relative Strength Index (RSI) stands neutral at 50.68, and the MACD is close to the zero line, suggesting a potential positive crossover if strength accumulates. Chaikin Money Flow indicates limited capital inflow with a value of 0.05, while Bollinger Bands are squeezing, increasing the likelihood of a volatility breakout.
A long-term trend remains intact as long as Dogecoin stays above $0.20. Closings above the $0.28–$0.30 range could confirm a broader upward wave targeting the $0.40–$0.50 area. In this context, direction confirmation and volume validation are under close watch.
ETF Approval Prospects and Short-Term Risks
Data from Polymarket shows the likelihood of a spot Dogecoin ETF approval in the U.S. has increased by 36% to 73% in recent weeks. Such approval could unlock institutional capital, significantly boosting demand for Dogecoin and mirroring the effect seen following the launch of Bitcoin 
$91,967 and Ethereum 
$3,139 ETFs. This expectation, combined with technical breakouts, supports an upward scenario.
Meanwhile, analyst Wise Crypto has issued a Head and Shoulders pattern warning in the 4-hour chart. The formation would confirm below the neckline at $0.22, potentially triggering an accelerated decline towards $0.188. The analyst suggests that a short-term upward reaction to $0.25–$0.28 is possible, but urges caution against hasty purchases as downward risk predominates.
