Dogecoin Expands in Ascending Megaphone as Analysts Track Path to $1

Dogecoin trades inside an ascending megaphone structure marked by higher highs and higher lows, reinforcing a bullish outlook through 2025.

Historical rallies since 2023 reveal repeated accumulation and breakout cycles that continue to align with the current megaphone formation.

Analysts highlight tight consolidations followed by upward surges, suggesting further price expansion above $0.34 if momentum continues.

Dogecoin is trading within an ascending megaphone structure that analysts say could expand toward the $1 level. The formation, highlighted by market analyst EtherNasyonal, shows rising lows and widening highs, a setup that has historically led to extended rallies.

Dogecoin’s price history since 2023 illustrates a repeating cycle of consolidation followed by sharp upward movement. The token consolidated near $0.06 late in 2023 before rallying above $0.15 by early 2024. A similar rally between March and May 2024 lifted prices from $0.08 to over $0.23. After another consolidation phase, the cryptocurrency regained strength, defending crucial support levels through 2024 and into 2025.

Strengthening Structure and Support

The expanding megaphone pattern is being reinforced by a series of higher bases that align with the broadening trend. Analysts point to key support levels around $0.16 in September 2024 and near $0.19 in August 2025 as proof of the structure’s resilience. These defended points confirm the trendline slope and strengthen the integrity of the bullish channel.

Another analyst, Trader Tardigrade, emphasizes Dogecoin’s recurring pattern of tight consolidation zones that precede sharp upward surges. Charts show the token consolidating between $0.22 and $0.23 before breaking out toward $0.25. His projections highlight the potential for the current consolidation phase to extend into another rally that could push beyond $0.34.

Higher Highs and Upward Momentum

Dogecoin has consistently established higher highs, rallying from a low of $0.055 in October 2023 to above $0.42 in March 2024. Another peak above $0.38 in April 2025 confirms the upward sequence. The Relative Strength Index is currently at 55, suggesting momentum is balanced with potential for further upward pressure if buyers remain active.

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