Dogecoin Could 200% Rally If This Floor Holds, Analyst Says

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. An analyst has explained how Dogecoin falling to the lower level of a Parallel Channel could trigger a notable surge, should the support floor hold. Dogecoin May Have Been Moving Down A Parallel Channel Recently In a new post on X, analyst Ali Martinez has talked about a long-term pattern in the monthly price chart of Dogecoin. The pattern in question is a “ Parallel Channel ” from technical analysis (TA) , which forms whenever an asset observes consolidation between two parallel trendlines. Related Reading Bitcoin Shark & Whale Wallets Jump Despite Bearish Price Action 2 days ago The upper level of the pattern tends to be a source of resistance, while the lower one that of support. Together, the lines keep the price trapped in the region enclosed by them. In the case of an escape, the asset may see a sustained move in the direction of the break. That is, a surge above the channel can be a bullish sign, while a drop under it is a bearish one. Now, here is the chart shared by the analyst that shows the Parallel Channel that Dogecoin has potentially been trading inside for the last few years on the monthly timeframe: Looks like the price of the coin is currently inside the lower half of the channel | Source: @alicharts on X As displayed in the above graph, the 1-month Dogecoin price retested the upper level of this Parallel Channel at the end of 2024, but the memecoin ended up finding rejection. During most of 2025, the channel’s middle line held tight for DOGE, preventing further bearish action. In the last quarter of the year, however, the level finally gave out, and since then, the coin has seen an extended drawdown. Currently, the asset is still a notable distance over the pattern’s lower level, but if its trajectory from the last few months continues in the near future, it’s possible that it might close the gap. “I’m looking to buy the dip at $0.0537,” noted the analyst. “If this floor holds, we could see a 200% rally back to the mid-range at $0.16.” It now remains to be seen whether Dogecoin will end up retesting the support level of this Parallel Channel in the coming months, and if it does, whether the cryptocurrency will find a bottom at it. Related Reading Bitcoin Bearish Positioning Persists As Funding Rates Hold Negative 3 days ago In the short term, a possible bullish signal has appeared on the asset’s weekly price chart, as Martinez has pointed out in another X post . The TD Sequential recently gave a buy signal for the memecoin | Source: @alicharts on X From the chart, it’s visible that the Tom Demark (TD) Sequential indicator has given a reversal signal for Dogecoin following nine red candles, indicating that the bearish trend may be reaching exhaustion. In the two days since the signal has appeared, however, the asset has only slid down further. DOGE Price Dogecoin has plunged to the $0.090 level following the continuation of bearish momentum over the weekend. The trend in the price of the coin over the last five days | Source: DOGEUSDT on TradingView Featured image from Dall-E, chart from TradingView.com