Dogecoin Is Ready For Breakout: Analyst Shows Huge Target For Meme Coin King
A technical analysis of Dogecoin’s price action on the daily candle time chart shows that the meme coin has spent the last few months grinding down within a clearly defined descending channel. However, technical analysis suggests that the building may be nearing completion.
The daily chart shared on X by crypto analyst Jonathan Carter points to a setup that shows Dogecoin is about to break out of a bearish channel. Although the meme coin has not yet confirmed a full release, the chart now shows many conditions that align traders who are watching closely.
The Descending Channel is Approaching Its Breaking Point
Dogecoin has spent a long time moving within a bearish structure that has repeatedly limited upside efforts since September 2025. This long-term pressure has kept the price action controlled and highly predictable, but it has also kept the directional pressure underground. Each upward attempt was previously rejected at the upper limit, which keeps the price suppressed in the downward channel.
However, that structure now appears to be weakening. In accordance with technical analysis from Jonathan Carter, that pressure is now beginning to tilt upwards, with recent trading behavior showing less follow-through from sellers than in recent weeks.
Recent candles show Dogecoin pushing up from the lower border of the channel and pushing towards its upper line. Although it was rejected at the upper limit in early January, it has not strayed far from the top of the station. This is important because descending channels often work as continuation patterns only until the buying pressure overwhelms the sellers at the counter.
50-Day Moving Average and Way Back to $0.30
One of the most notable details on the chart is Dogecoin’s interaction with the 50-day moving average. After spending weeks trading below this level, the price has now found it and is trying to hold above it.
Holding above the 50-day moving average strengthens the case that the current move is one not just another temporary bounce. As long as the price of Dogecoin continues to hold above this moving average, then the bullish view is valid.
If Dogecoin is able to break cleanly above the channel resistance, the analysis reveals a sequence of higher levels that may be entered soon. The initial retracement would bring the price back to the mid-$0.15 range, followed by a push to the upper $0.18s and the $0.20 region, areas that have been acting as congestion zones.
After that, the chart points to $0.24 as the next target again and finally $0.28 to $0.30 as a final destination for recovery before any rejection comes into the picture.
These are short- to medium-term price targetsnot long-term projections. These goals are very possible and can be achieved in the next few weeks if the wave of ideas can sweep across the crypto market.
Featured image from iStock, chart from Tradingview.com
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