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Once popular meme coin and still ninth-biggest cryptocurrency Dogecoin ($DOGE) might be about to have its most important daily breakout since early 2023, and if you are watching the TradingView chart, there is one thing to watch for: the neckline at $0.152.
After printing an almost textbook inverse head-and-shoulders formation with a bottom at $0.117 and two symmetrical shoulders above $0.138, $DOGE is now pressing up against the last major resistance that separates it from a potential +22% rally.
If the breakout is above the $0.152 neckline, technical projections suggest a move toward the $0.178-$0.186 range.
The right shoulder popped up fast, picking up momentum from under $0.13 with rising volume and confirmation of previous support flips. The consolidation under $0.152 is similar to what we saw during $DOGE's earlier rallies, where there was a big breakout after a period of tight compression.
Levels to watch for Dogecoin
So, as long as the price of Dogecoin closes above $0.152 today or there is a high-volume rejection, then the next move is up. In the bullish case, the target price from this pattern is about $0.186, which would fix weeks of loss in just a few hours.
But if $DOGE does not break through, it might go back to $0.138 or even $0.117, and that would cancel out the whole setup. Either way, Dogecoin's chart is close to igniting the next retail craze. If $DOGE flips $0.152 with conviction, the meme coin king may have something new to bark about.