TLDR:
- DOGE price trades above flipped support, signaling strength despite the recent altcoin market dip.
- Wave count suggests DOGE may be in its fifth impulse, targeting up to $1.56 this cycle.
- A more aggressive wave model sees potential for a speculative rally as high as $16.07.
- Key support between $0.13–$0.16 must hold for bullish Elliott Wave structures to stay valid.
Dogecoin is back in focus as new technical analysis suggests a bullish structure forming on the weekly chart. Market watchers say the meme coin is showing signs of strength despite the broader altcoin dip.
The current setup has traders eyeing both modest and explosive price targets. Price patterns point to a long-term wave cycle still in motion. Analysts now argue DOGE could climb well beyond its current range this cycle.
DOGE Price Structure Signals Uptrend Potential
A recent chart analysis from XForceGlobal outlines two bullish Elliott Wave scenarios for DOGE.
The first scenario places the coin in its final impulsive wave, projecting a target of $1.56. That’s nearly a 6.7x jump from its current price of $0.2313. This pattern depends on a continued push from the ascending wedge now forming on the weekly timeframe.
Friendly reminder that #DOGE can easily do a minimum 3-5x for the remainder of this cycle, and potentially much more if we follow the second path.
All altcoins will rise, but it's about finding which one has the most opportunity.#DOGE is a very resilient 'legacy' coin. pic.twitter.com/BlQKY33CgZ
— XForceGlobal (@XForceGlobal) July 25, 2025
In the second, more aggressive scenario, the wave count resets to a new macro cycle. This would mean DOGE is still early in a new Wave III. If this wave extends, the price could theoretically touch $16.0771, though such a move would require extreme speculative flows.
DOGE is trading just above the $0.23 mark. This level sits on top of prior resistance from early 2021 and early 2024, now flipped to support. The critical zone between $0.13 and $0.16 must hold for either wave scenario to remain valid.
A breakdown below this range would likely invalidate both bullish paths. But as long as this level stands, traders will continue watching for continuation patterns and new breakout signals.
Sentiment Builds Around Legacy Coins
DOGE’s long-standing presence in crypto gives it a different kind of momentum. XForceGlobal called it a “resilient legacy coin,” pointing out how it often recovers when others stall.
Another trader, Alek, mentioned the price was loading up for a third resistance test. He suggested quick scalps were viable while watching for a breakout on the next retest.
$DOGE getting rally for retesting its resistance again.
Same power loading again.
I know we are not going to break this strong resistance in two touch ups atleast we need three touch ups to break this strong resistance.
But in that meantime, you can do quick scalping.
Best… pic.twitter.com/JxG1emaTLH
— Alek (@Alek_Carter) July 25, 2025
The chatter reflects growing interest as meme coins creep back into rotation. Timing seems key, especially with DOGE’s historical ability to rally hard when attention returns.
Despite a recent 3.18% drop over 24 hours, DOGE is still in bullish territory structurally. Its 7-day slide of 4.04% hasn’t disrupted the longer-term pattern. The real test lies in whether DOGE can break resistance with volume.
For now, all eyes are on whether this third touch will flip that ceiling. If it does, the next leg could push DOGE toward $1. Skepticism remains, but the wave count and support levels provide a technical base for bullish bets.
Traders will need to stay alert, manage risk, and wait for confirmation before making bold moves.
