Dogecoin Could Be About to Surge — Analyst Says $0.40 Is the Next Big Target

Dogecoin Could Be Ready for a Big Price Jump Despite Recent Drop

The crypto market has recently gone down, and Dogecoin (DOGE) is feeling the pressure. The popular meme coin dropped to around $0.21. However, one crypto analyst believes Dogecoin might be getting ready for a strong rebound, with prices possibly rising back to $0.22 soon.

Possible Rally to $0.40 for Dogecoin

Dogecoin is showing signs of recovery thanks to a small rebound in Bitcoin’s price. According to its 1-day price chart, DOGE might be preparing for a breakout. A crypto expert known as Trader Tardigrade shared on social media that Dogecoin could soon rise sharply toward $0.40.

The analyst noticed a pattern forming below the $0.25 resistance level. This pattern suggests DOGE is going through a consolidation phase — a period where the price moves sideways before a big move happens. This is the second time this has happened in just a week.

The first consolidation happened last Tuesday when DOGE couldn’t break above $0.25. Trader Tardigrade believes the recent drop below $0.21 was a shakeout to remove weak investors. He predicts that after testing the $0.25 level a few more times, DOGE will eventually break through and rise.

If Dogecoin does break out, it could quickly rally up to $0.40. This price was last seen in January before DOGE pulled back. If it breaks past $0.40 again, it could continue to climb as more buyers enter the market.

Hidden Bullish Signal Appears for DOGE

There are also signs from technical indicators that DOGE might be ready to move higher. Trader Tardigrade spotted a “Hidden Bullish Divergence” on the RSI (Relative Strength Index) chart. This means the price is making higher lows, while the RSI is making lower lows — often a sign that a big move up is coming.

Another crypto analyst, Ali Martinez, pointed out that $0.26 is a very strong resistance level for DOGE. If the price can break above that, it could start a new bullish phase.