Dogecoin Pullback May Be Short-Lived: Here’s The Next Target

Dogecoin’s rally of more than 78% in the last 38 days appears to be more than a fleeting spark, according to two independent studies published on X by chartists Bluntz (@Bluntz_Capital) and TSG (@tsg0x). Both analysts point to classical continuation structures that remain intact after DOGE peaked at $0.2597 on Sunday. While profit-taking has set in, they agree that the next objective lies in the mid-$0.30s.

Bluntz’ twelve-hour Binance chart maps out an almost textbook inverse head-and-shoulders that evolved in late-February and was confirmed in early May. The left shoulder was stamped out in mid-March around $0.142, the head was carved at ~$0.129 in the first week of April, and the right shoulder completed at the start of May at $0.164.

A descending neckline that had capped price since over the past two months intersected around $0.20; that barrier gave way last week on the heaviest twelve-hour volume cluster since February of 2025 so far, a key confirmation that the breakout is powered by real participation rather than thin-order-book volatility.

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Subsequent candles carried DOGE almost to $0.26 before a modest pullback to $0.217 set in. Momentum remains constructive: the RSI, which briefly tagged the oversold area on the breakout, has cooled to the low-60s, suggesting that overbought conditions have been reset without surrendering bullish structure.

The measured-move rule for an inverse head-and-shoulders—neckline to head depth of roughly eight cents—projects an initial destination in the $0.26-$0.28 region, in line with the hand-drawn arrow on Bluntz’ chart that shoots into the low-$0.30s.

TSG zooms into the four-hour timeframe and observes the same impulse consolidating within a descending parallel channel spanning $0.22–$0.26, a classic bull flag. On a breakout, he assigns a precise target of $0.32928.

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He buttresses this outlook with a time projection, an arrow that anticipates the next decisive move within the coming days. If the flag fails, invalidation arrives on a four-hour close beneath the lower channel boundary near $0.20; below that, a cyan demand block between roughly $0.16 and $0.21 aligns with the rising trend-line that has underpinned price action since early April, offering bulls a secondary zone to reload.

Taken together, the two studies sketch an aligned roadmap. If Dogecoin holds above the $0.20 area, the next price target could be the $0.32 region.

At press time, Dogecoin changed hands near $0.228, hovering near the breakout line of the descending trend channel which originated in December last year and dominated price actions since then. Notably, the midline of this channel is also situated just below $0.20, reinforcing the importance of this level for a continuation of the bullish impulse.

Featured image created with DALL.E, chart from TradingView.com