Will DOGE Price Hit $0.42? Analyst Maps It Out

Dogecoin is on fire again. The popular meme coin just surged over 17% in a single day, outperforming other major memecoins like BONK, PEPE, and FLOKI. As of now, DOGE is trading just under $0.25, and the hype is quickly building.

While the whole crypto market is enjoying a strong rally, Dogecoin seems to be carving out its own bullish story. And according to respected analyst Ali Martinez, the next move could be even bigger.

Ali Martinez Spots a Double Bottom

In a recent post on X, Martinez shared a clean technical chart showing what appears to be a textbook double bottom forming on DOGE’s daily chart. This classic reversal pattern is known for signaling a shift from a downtrend to an uptrend – often followed by an explosive breakout.

Here’s what he had to say:

“Dogecoin $DOGE seems to be shaping a double bottom pattern, targeting $0.42!”

The pattern shows two major troughs – one in late April and another in mid-June – forming the “W” shape typical of this setup. The neckline, which sits just around $0.25, is acting as the key resistance level. DOGE is now testing that area, and if it closes above it with volume, the bullish breakout scenario could kick in fast.

Source: X /@ali_chart s What Happens Next?

If the breakout confirms, the chart Ali posted outlines a possible path toward $0.42, which would represent more than a 70% gain from current levels.

The projection makes sense from a technical perspective. The distance from the bottom of the “W” (around $0.13) to the neckline (~$0.25) is roughly $0.12. If you add that to the breakout point, you get a target near $0.37 to $0.42 – which is exactly what the analyst mapped out.

Martinez’s chart also hints at a stair-step pattern to reach the target – meaning a healthy, gradual climb instead of a flash pump and dump.

Read also: Analysts Say Dogwifhat (WIF) Price Could Pump Soon – Here’s What the Chart Pattern Shows

Is It Too Late to Get In?

Not necessarily – but traders should be cautious. The $0.25 area is a major resistance, and DOGE needs a decisive close above it before the breakout is confirmed. If it gets rejected here, a brief correction could follow.

Still, the setup looks strong. Volume is picking up, sentiment around DOGE is turning bullish again, and if the broader altcoin rally continues, Dogecoin could ride the momentum all the way to the target.

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The post Will DOGE Price Hit $0.42? Analyst Maps It Out appeared first on CaptainAltcoin.