At the start of 2024, Dogecoin (DOGE) was trading at just $0.09206. The election of pro-crypto candidate Donald Trump in November of that year ignited a wider cryptocurrency market bull run — leading DOGE to close the year at $0.32409 for a 252.04% return.
The original meme coin has since continued those gains seeing a 10.87% price increase since the start of 2025. At press time, DOGE was changing hands at $0.36191 — although the coin is still some 28.89% off of its recent $0.4665 high.
While positive, DOGE’s price action in January thus far has been quite volatile — owing to now-resolved inflation worries and liquidity suddenly gravitating toward Official Trump (TRUMP), the President’s own meme coin.
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There’s no denying the fact that the meme coin market has become significantly more saturated and even volatile, as traders rush to discover new opportunities. However, DOGE has demonstrated surprising staying power in a space where assets are ephemeral — and a recently spotted chart pattern suggests that the humorous asset’s price could break out and make a sharp move to the upside.
Crypto expert outlines how DOGE could surge to $0.39
On Wednesday, January 22, a look at Dogecoin’s daily chart would have revealed what appears to be a falling wedge pattern, as noted by cryptocurrency expert Ali Martinez in an X post.
This bullish chart pattern occurs when the price of an asset ranges between two converging trendlines that slope downward. The upper trendline connects a series of lower highs — the lower trendline connects a series of lower lows.
In the case of a falling wedge, a price target is constructed by taking the distance between the highest and lowest points of the wedge and adding it to an expected breakout point. A decisive close on strong volume tends to confirm the pattern — although readers should note that as the wedge forms, volume generally tends to drop — a sign of weakening selling pressure.
A closer look at DOGE’s daily chart reveals that volume has indeed dropped by roughly 50% as we approach the convergence of the trendlines.
If Martinez has correctly identified this pattern — and if the meme coin makes a decisive move upward on strong volume in the next few hours after the time of publication, the price of DOGE could surge to as high as $0.39 — a mark that would represent a 7.76% increase from current levels.
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