- Dogecoin forms fourth bull flag pattern, with analysts eyeing a potential 560% rally.
- Liquidation heatmap highlights critical price zones at $0.22 and $0.235 for DOGE.
- RSI and MACD suggest bullish consolidation, signaling potential upward breakout soon.
Dogecoin (DOGE) continues to attract attention as bullish patterns form across its price chart. After gaining 5.92% over the past week, DOGE has slightly pulled back, currently trading at $0.2289. While this marks a 1.99% drop in the past 24 hours, analysts at Bitcoinsensus suggest the meme coin might be preparing for its most significant move yet.
The possibility of an explosive rally remains on the table, especially given the recurring bull flag formations that have historically sparked major price surges.
Momentum Builds Through Bullish Flag Patterns
According to Bitcoinsensus analysis, Dogecoin’s recent price behavior follows a familiar trend of bull flags tight consolidation periods followed by strong breakouts. The first three flags resulted in price gains of 90%, 215%, and an impressive 440%. Now, analysts believe the fourth flag may be setting up for a 560% gain, potentially propelling DOGE toward $0.95.
#Dogecoin Explosive Price Projection💥$DOGE has been moving nicely within this uptrend structure, fueled by long lasting bull flag channels.
— Bitcoinsensus (@Bitcoinsensus) May 23, 2025
The first flag yielded a +90% return, the second +215%, and the third +440%💹
This forth flag could potentially take the price of $DOGE… pic.twitter.com/kiomHgwgHR
This projection is based on continued price support and growing demand. The structure within the current uptrend remains intact. Additionally, historical data shows that such patterns often lead to sharp moves when momentum aligns.
However, traders must consider the significance of current resistance and support levels. According to the DOGE/USDT liquidation heatmap, heavy activity is concentrated near $0.235 and $0.22.
These zones indicate areas of major liquidation, pointing to where price reactions are most likely to occur. The intensity of liquidations near these levels suggests upcoming volatility, especially if price breaks either boundary.
Technical Indicators Offer Mixed but Hopeful Signals
From a technical standpoint, Dogecoin’s RSI (Relative Strength Index) currently reads at 57.06. This shows that DOGE has room to grow before hitting overbought territory. A rising RSI trend suggests strengthening buying pressure, which may lead to another leg upward.
Moreover, the MACD (Moving Average Convergence Divergence) shows slight weakness in bullish momentum. The MACD line sits just below the signal line, with a histogram near zero. This indicates ongoing consolidation, not a reversal. It also implies that the next strong move could be upward, especially if the MACD line crosses above the signal again.
