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DOGE Showing Signs of Possible Breakout
Dogecoin (DOGEUSD) has been pretty flat lately. August was quiet. September 2025's monthly candle didn't show much movement either. But here's the interesting part - it's been sitting right on its monthly MA50 support (that blue line) since around October 2024.
This sideways action looks a lot like what traders call an Accumulation Pattern. Kind of surprising how closely it matches the pre-rally patterns from previous cycles. These patterns seem to show up right before DOGE makes big moves. The crypto finds its footing on the monthly MA50, hangs around for a while, then... boom.
Looking at past cycles, DOGE tends to reach at least the 1.618 Fibonacci extension from its previous high before things cool down. If this pattern holds (though it's not entirely clear if it will), we might be looking at $1.00 before this cycle ends. Maybe even $3.50 if things get really heated and the cycle stretches out.
The monthly chart has this feel of something building up. We've been consolidating along that MA50 for a while now. Feels like we're approaching a turning point.