Dogecoin Primed for ‘Face-Melting Rally’ as Rare Pattern Forms

Market analyst Mikybull Crypto has identified what he describes as a rare and significant chart formation in Dogecoin’s technical structure. The Bump & Run Reversal Bottom (BARR) pattern, famously documented by Thomas Bulkowski in his Encyclopedia of Chart Patterns (2005), is currently unfolding in DOGE’s weekly chart. According to Mikybull Crypto’s analysis shared on X social media, Dogecoin has completed both the ‘Lead-in’ and ‘Bump’ phases of this pattern and now sits at the critical ‘Throwback to Trendline’ stage, which historically precedes steep upward movements.

The historical significance of this pattern cannot be overstated. Bulkowski’s research indicates the Bump & Run Reversal Bottom carries a success rate between 64% and 68% in predicting substantial price movements. For Dogecoin, this technical setup suggests the cryptocurrency may be preparing for what Mikybull Crypto characterizes as a ‘face-melting rally.’ The analyst notes that DOGE appears to have retested its former downtrend line, which has now flipped into support after months of consolidation, creating what could be an ideal launchpad for the next major move higher.

If the pattern plays out as outlined, Mikybull Crypto predicts Dogecoin could experience a dramatic price surge toward the $0.70 to $0.85 range. While this represents a substantial increase from DOGE’s current trading level of $0.23, the analyst emphasizes that such moves are consistent with how this rare pattern has historically unfolded after the ‘bump’ phase, when momentum typically shifts decisively toward buyers.

Complementing the longer-term bullish outlook, crypto market expert Cas Abbe has identified significant short-term signals on Dogecoin’s daily chart. The analyst highlights an impending Golden Cross formation, a technical event that occurs when a shorter-term moving average crosses above a longer-term moving average, typically signaling strengthening momentum. Cas Abbe’s chart analysis shows DOGE price action moving within an ascending channel, with the cryptocurrency now approaching the upper resistance band around $0.33.

The $0.33 resistance level represents a critical threshold for Dogecoin’s near-term trajectory. According to Cas Abbe, a decisive breakout above this level could act as a major trigger not only for DOGE but for the broader altcoin market. The analyst emphasizes that when Dogecoin begins to surge, it often marks the start of what traders refer to as ‘altcoin season,’ a period when capital flows away from Bitcoin into alternative cryptocurrencies, sparking widespread rallies across the sector.

Currently priced at $0.23, Dogecoin is sitting near key Moving Averages with momentum potentially building. Cas Abbe’s analysis suggests that a successful push above the $0.33 resistance could unleash rapid upward movement toward the $0.37 area. This short-term target aligns with the broader bullish narrative emerging from multiple technical perspectives.

Despite the bullish technical formations, Dogecoin has not been immune to recent market pressures. According to data from CoinMarketCap, DOGE has declined by over 4.3% in the last week and risen by only 5.6% over the past month, reflecting the broader cryptocurrency market downturn. However, both Mikybull Crypto and Cas Abbe suggest that these conditions may be creating an optimal setup for the anticipated moves.

The convergence of multiple technical indicators creates a compelling case for close monitoring of Dogecoin’s price action. Mikybull Crypto warns that rallies emerging from the Bump & Run Reversal Bottom structure often accelerate quickly, potentially leaving late entrants at a disadvantage. This pattern’s historical success rate of 64-68% provides statistical backing for the bullish outlook, though traders should remain aware that technical patterns, while historically reliable, do not guarantee future performance.

The broader implication for the cryptocurrency market centers on the potential start of altcoin season. As Cas Abbe notes, Dogecoin’s movements often serve as a bellwether for capital rotation from Bitcoin to alternative cryptocurrencies. A successful breakout above key resistance levels could therefore signal not just a Dogecoin rally but a broader market shift that could benefit numerous digital assets beyond DOGE itself.