Dogecoin’s price might repeat its Q4 2024 move, with a prominent market analyst targeting a massive breakout.

Dogecoin (DOGE) has experienced a notable shift in its price action over the past few months, with a 16.6% rise in the last week signaling a positive short-term trend. This is particularly notable despite a slight dip of 0.1% in the past 24 hours.

However, when viewed over a month, the meme coin has seen a 5.3% decline. On a two-week scale, Dogecoin has barely budged, with a 1.1% decrease in value. Despite these fluctuations, analysts are eyeing a potential breakout in the near future.

Dogecoin in a Descending Triangle

According to a recent analysis by World of Charts, Dogecoin’s price has been trapped within a descending triangle, where it fluctuates between two clear trendlines. This triangle has been forming for several months, indicating that the coin has been consolidating after a strong rally in November 2024. 

$Doge #Doge We Caught This Big Move In Oct 2024, Dogecoin Went More Than 3x, Now Again Doge On Verge Of Massive Breakout, It Can Give Move Like Oct, Expecting 3x From Here. https://t.co/9aTZtkzEpG pic.twitter.com/M8kDUSEpdR

— World Of Charts (@WorldOfCharts1) April 13, 2025

Note that DOGE saw a strong rally in Q4 2024, where it surged by more than 3x. Based on the chart, during the October surge, DOGE moved from approximately $0.105 to above $0.48. The price then retraced, moving into a consolidation phase within the descending triangle.

Since then, the meme coin has persistently struggled to break out above the triangle but has often faced resistance at the upper trendline. Dogecoin first attempted to breach the triangle in mid-January when it soared to $0.4340, but the resistance at the upper trendline capped its upside run.

Further, the meme coin again engineered a push toward breaching the triangle, reaching $0.2058 on March 26, but the resistance at the upper trendline held strong. This resulted in another failed breakout, pushing DOGE back into the triangle.

Meanwhile, the asset also touched support at the lower trendline at approximately $0.15 around March, with a recent touch just below $0.14, but it has maintained its footing. As per World of Charts, Dogecoin may soon make another breakout with a potential target price of $0.3983. This would represent a 137.85% increase.

Other Patterns Supporting a Breakout

Meanwhile, in a separate observation shared by analyst Javon Marks, Dogecoin’s price action from 2014 to 2025 reveals a consistent pattern of descending triangles followed by breakouts. These descending patterns have historically led to upward price movements. 

Each breakout resulted in Dogecoin reaching a new all-time high, which reinforces the idea that such patterns may lead to future bullish price action. Javon Marks suggests that the meme coin could see an increase of at least 200% to 330%, pushing its price above $0.73.

Dogecoin’s Network Activity is Growing

Further, recent data from IntoTheBlock highlights significant increases in Dogecoin’s key network activity metrics. In the past seven days, new addresses have surged by 102.40%, while active addresses have risen by 111.32%. 

These spikes suggest heightened user interest and engagement, which could further fuel positive momentum for Dogecoin. Such network activity is often a precursor to price surges, as growing adoption and more active participants indicate that the market is becoming more engaged with the asset.