Dogecoin (DOGE) is capturing renewed attention as technical patterns and holder activity suggest a potential explosive rally, with forecasts pointing to a possible 200% surge by November end.
Following a sharp flash crash earlier in October, short-term investors have been actively accumulating DOGE, signaling growing confidence despite market volatility. Combined with a compression triangle forming on the charts, these developments set the stage for a possible significant upside, attracting both retail and institutional interest.
Rise in Accumulation Among Short-Term Holders
Recent on-chain data indicate that, despite recent volatility, short-term holders are actively accumulating Dogecoin (DOGE). Following the steep flash crash earlier in October, many traders saw the correction as a strategic buying opportunity rather than a warning sign.
Dogecoin has yet to reach euphoria, with short-term holders steadily accumulating, suggesting potential near-term price upside supported by historical on-chain patterns and metrics. Source: Joao Wedson via X
Market analyst Joao Wedson, founder of Alphractal, noted that this steady accumulation reflects growing confidence in Dogecoin’s long-term potential. Key on-chain metrics, such as Hodl Waves and the MVRV Z-Score, also suggest that DOGE is far from reaching its cycle peak, leaving room for further upside before any major top forms.
Technical Setup: Compression Triangle and Wedge Breakout
From a technical standpoint, Dogecoin appears to be forming a compression triangle—a chart pattern that often precedes a sharp move in price. The coin has recently broken out from a long-term descending wedge that had restricted upward movement for months.
Following a recent liquidation crash, Dogecoin (DOGE) is forming a compression triangle, signaling consolidation before a potential breakout, with a bullish surge possible by the end of November. Source: Jimmy via X
This breakout, combined with the establishment of a firm support zone between $0.23 and $0.25, provides additional strength to the bull case. Analysts point to converging trendlines on the 4-hour and daily charts, suggesting a strong breakout to the upside as November begins.
If DOGE continues to retake the 0.618 Fibonacci level, it could be entering wave three, historically recognized as the most intense phase of a bull cycle.
Potential Upside and Risk Scenarios
Analysts are looking for a spectacular 200% price run through late November if momentum continues to build. Based on wedge projections and recent market activity as a guide, potential targets are in the $0.70-$0.75 area, with longer-term models extending as far as $1.60 through 2026.
However, maintaining key support zones of $0.20–$0.22 remains significant. Breakdown below these zones would compromise the bullish shape and require a deeper correction. Conversely, clearing resistance in the area of $0.28–$0.30 would more likely confirm resumed momentum, paving the way for the rally to continue.
According to several technical analysts, “A clean breakout above $0.28 would mean bulls are in complete control again and could take the Dogecoin price much higher.”
Institutional Signals and Market Flow
Aside from technical indicators, institutional interest and partnerships are also adding weight to the bullish momentum. Projects and businesses associated with the Dogecoin ecosystem are expanding, indicating a push towards broader adoption and integration into the real world.
Dogecoin was trading at around $0.20, down 2.91% in the last 24 hours at press time. Source: Brave New Coin
Simultaneously, trading desk data also indicates new accumulation in the $0.20 zone, suggesting that both institutional and retail players view this level as a favorable long-term entry point. Analysts say that this accumulation typically precedes violent rallies, especially in the meme coin universe, where sentiment can shift extremely rapidly.
Final Thoughts
If DOGE maintains its shape and the compression triangle is resolved to the upside with good volume confirmation, a 200% move to the upside by the end of November remains well on the table. Analysts refer to key technical levels, saying that support between $0.20 and $0.22 is key to maintaining bullish momentum.
A move above the $0.28 to $0.30 zone would indicate a strong breakout. Short-term targets range from $0.70 to $0.75, with longer-term anticipation above $1.00 as confidence in the market grows. Although optimism has only just gained momentum, analysts caution that the volatility of Dogecoin is high, and it must be traded with discipline. The growing accumulation, favorable sentiment, and bullish technicals notwithstanding, the Dogecoin price prediction for later in 2025 is for renewed energy and potential recapture of top-performing cryptocurrency spotlights.
