New technical analysis suggests that the Dogecoin price is teetering at a pivotal point that could dictate its trajectory for the coming months. According to a crypto analyst, the meme coin faces two stark possibilities: a massive bullish breakout that could catapult DOGE by 800% to a new peak of $1.82, followed by a potential crash that may drag the meme coin’s value below $0.1.
Dogecoin Price To See Massive Rally Before Crash
In an August 31 post on X social media, crypto analyst KrissPax announced that Dogecoin may be on the verge of a dramatic rally if historical price action and Fibonacci Extensions play out. He projected that DOGE could trade up to the 2.618 Fibonacci level this fall, which aligns with the $1.82 price mark. Such a bullish move would represent a remarkable 800% gain from the meme coin’s current value of roughly $0.218.
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KrissPax shared a chart showing multiple accumulation zones where Dogecoin held firm despite broader market corrections, indicating that long-term holders could be reinforcing price stability. Although the outlook points to an explosive upside potential for DOGE, the analyst also warned that a looming bearish scenario is still in play.
Based on the chart’s trajectory, once Dogecoin hits the projected $1.82 all-time high, the meme coin could experience a steep crash toward $0.09 (0.236 Fibonacci retracement), revisiting its weakest levels since 2023. KrissPax referred to this zone as a “gift” in his chart, suggesting it may offer a chance to accumulate at lower prices.
With the price now hovering near key resistance, Dogecoin appears to be approaching a decisive moment that could determine its next target. For investors, this presents a classic high-risk, high-reward setup that could offer strong gains to early accumulation ahead of a breakout or deliver significant losses if bearish pressure sends the meme coin plummeting.
Moving forward, KrissPax indicated that Dogecoin’s current low price, relative to its previous peaks, could be an opportunity for traders to add to their portfolios. He warns that hesitating to buy at discounted levels could result in being left out when DOGE begins another steep climb.
$0.23 Identified As Key Breakout Threshold
In a separate X post, crypto market expert Ali Martinez shared his latest Dogecoin analysis, taking a more bullish stand. He pointed to a symmetrical triangle pattern forming on the Dogecoin 4-hour chart, where price action has been consolidating between tightening support and resistance lines. Based on his analysis, this type of formation often signals an impending breakout, with the direction ultimately determined by which boundary the pattern is breached.
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Martinez has identified $0.23 as the critical level to watch. If Dogecoin breaks above this threshold with convincing volume, it could trigger a fresh bullish rally toward higher resistance levels at $0.25, $0.28, and potentially $0.30. The analyst’s chart projection outlines a step-like ascent once the breakout is confirmed, suggesting a sustainable rally rather than an immediate spike.
Featured image from Getty Images, chart from Tradingview.com
