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Dogecoin rises 11% to $0.21 with a bullish MACD cross, forming a bullish pennant and testing long-term support as traders eye a $1 target.
Dogecoin (DOGE) is trading at $0.21 after gaining 11% in the last 24 hours. The move follows a sharp drop earlier this week that pushed the price close to $0.18. Trading volume over the same period reached $5.14 billion.
Despite the recent bounce, DOGE remains down 17% over the past seven days. Traders are watching the chart as technical indicators begin to shift. Recent patterns on short and long timeframes are drawing attention.
MACD Crossover Shows First Sign of Strength
On the 4-hour chart, Dogecoin has shown a bullish MACD crossover, as noted by Trader Tardigrade. The MACD line has moved above the signal line, and green histogram bars have appeared, suggesting a change in momentum. This type of crossover often points to easing selling pressure.
Bouncing from nearly $0.18, the asset showed stability after the recovery by staying above $0.21. It has not yet reached last week’s peak of about $0.27, but the present situation indicates that early momentum is coming back.
Bullish Pennant Points to Possible Breakout
Trader Tardigrade has identified a bullish pennant on the 4-hour chart. It formed after a sharp upward move, followed by tighter price action between two converging lines. This setup often appears before a continuation of the previous trend.
$Doge/4-hour#Dogecoin is forming a new bullish chart pattern following the crash.
A Bullish Pennant has appeared on the chart.🔥 pic.twitter.com/9gYv91lOLK— Trader Tardigrade (@TATrader_Alan) October 13, 2025
DOGE is holding near $0.21. A breakout above the pennant could lead to a move past $0.22. If the price fails to maintain support, the pattern would be invalid.
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A monthly chart shared by Trader Tardigrade shows Dogecoin repeating a structure seen in earlier moves. The chart includes two past rallies of 300% and 500% that began after touching a long-term trendline. The same line has now been tested again.
In case this pattern holds, the anticipated move suggests a possible increase of more than 870%, which would bring DOGE close to the $1 threshold. The trendline originates in 2021 and has consistently provided support during different cycles.
Current Setup Matches Previous Cycles
Analyst EtherNasyonaL noted that DOGE is following a familiar setup. “The chart is showing the same pattern again,” they posted, pointing to a break above the 25-day moving average and a retest of support.
In past cycles, this phase came just before larger rallies. The recent bounce has also been linked to a rise in open interest and increased on-chain activity. The move comes as part of a broader recovery seen across meme coins.
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