Dogecoin Pullback Phase May Be Completed, Is The Next Surge For DOGE Starting?

Bullish sentiment has slightly dropped in the general crypto market, affecting major digital assets like Dogecoin, which fell to the $0.168 level as Wednesday drew to a close. DOGE may be struggling to sustain its recent upward trend, but indicators suggest that an upside movement is more likely than a downside movement.

An End In Dogecoin’s Pullback Phase

Given the current price action, Dogecoin appears to have weathered its correction. Seasoned technical analyst and investor Trader Tardigrade has predicted a potential continuation of the renewed bullish performance, triggered by a broader positive market performance.

In the analysis shared on X, Trader Tardigrade highlighted that the dog-themed meme coin may be done with its pullback for this cycle. This implies that Dogecoin has established a solid base above important support levels, suggesting that its strength may be restored underneath the surface despite signs that the ongoing uptrend is losing steam.

A view of the chart shows that the meme coin has persistently found support at previous swing highs. Furthermore, it recently bounced back from a key support zone to reach a high from a prior upswing, indicating its resilience within current market conditions.

Considering this movement on the 3-day chart, Trader Tardigrade is confident that the meme coin may have finished its pullback. As a result, he foresees another sharp rally in the near term, which will push DOGE to a new all-time high in 2025.

Dogecoin continues to demonstrate potential for a rally as Trader Tardigrade noted that the asset has entered a recovery phase, signaling a shift in price dynamics. Such a move would end its correction or consolidation phase, setting the stage for an upsurge.

Looking at the chart, the last time DOGE entered a recovery phase, it resulted in a notable upward move in the shape of a Rising Wedge formation. However, after a period of uptrends, DOGE transitioned into a consolidation phase, forming a Parallel Channel pattern.

A similar pattern is currently unfolding on the 4-hour chart, hinting at an impending rally. Should past trends repeat, the meme coin is expected to rally in the upcoming days, reclaiming the $0.225 level.

A DOGE Textbook Accumulation Cylinder Pattern

As DOGE builds momentum, Crypto Bullet, a technical analyst, has shared an analysis that entails DOGE’s potential future in the ongoing cycle. Following his examination of the 3-day chart, the analyst revealed that Dogecoin had formed a Textbook Accumulation Cylinder pattern.

Based on the shape of the textbook accumulation cylinder pattern, the meme coin could be poised for a massive pump in the next few months. The pattern hints at a surge to a market top for DOGE above $3.2. After that, a decline to $1.2 will occur before rebounding to $2 again. Finally, DOGE’s price is likely to enter a bearish market phase, pulling prices back to $0.17 by the end of 2026.

Although Crypto Bullet is unsure of what would trigger this move, he believes that “something interesting is coming.” However, an ideal formula for a pump could emerge with the addition of BTC’s dominance topping out.