Dogecoin Price Nears Key Breakout Amid $1.8B Futures Bets

Dogecoin (DOGE) is currently trading within a critical price range between $0.16 and $0.22, with analysts observing a symmetrical triangle pattern that suggests a major breakout is imminent. This technical setup, identified by multiple experts including Ali Martinez and KrissPax, indicates that a daily close above $0.22 could trigger a bullish rally potentially reaching $0.35 to $0.38, while a breakdown below $0.16 might result in a sharp decline toward $0.10 to $0.13. Despite recent price declines and consolidation, institutional interest remains strong, evidenced by a surge in futures open interest to over 10.5 billion DOGE tokens, signaling confidence in a forthcoming significant move. Historical patterns reinforce this outlook, as similar formations have preceded substantial rallies in prior bull markets. Trading volume has slightly decreased as many traders await confirmation of the breakout direction. Overall, Dogecoin appears poised for a potential 60% price swing depending on which side of the key range it decisively breaks.