Dogecoin (DOGE), the meme crypto no one takes seriously, seems like it’s bound to repeat its all-time explosive rallies. One analyst even claims that if Dogecoin (DOGE) were to hit $0.65 it would more than triple its price, assuming history would repeat itself.

Dogecoin (DOGE) has undergone five months of price compression after nearly hitting $0.48 in early December. On Binance 12-hour chart, technical analysis shows price breaking out from a falling-wedge formation, a bullish formation.

DOGE/USD price value is leaning against a bearish resistance line, now located at about $0.155. In the past, major DOGE price rallies have faltered short of this key resistance level.

Ongoing Analyst Kevin (@Kev_Capital_TA) first targets Dogecoin (DOGE) to retrace immediately back up to $0.26. This speculative wave is predicated on Bitcoin (BTC) breaking out above $89,000 and establishing significant bullish pressure. The $0.26 level is the 0.618 Fibonacci retracement of Dogecoin’s (DOGE) November-March decline.

Interestingly enough, this same analyst is the one who predicted, well in advance, that Dogecoin (DOGE) would soon skyrocket by 300%. This year, he’s expecting more of the same.

Our buddy World Of Charts (@WorldOfCharts1) was instrumental in bringing to our attention Dogecoin (DOGE)’s breakout from a falling-wedge formation on the Binance 12-hour chart. This pattern lends additional credence to the possibility of a bullish price breakout.

With technical indicators all lining up in Dogecoin’s (DOGE) favor, Doge price has a good chance of setting off on an epic price rally. Nevertheless, inability to break above the resistance level may continue the established price trend.

A drop under $0.15 might leave Dogecoin (DOGE) vulnerable to heavier losses. Dogecoin (DOGE) has some resistance they need to get through and need to stay above this significant support level. That’s going to be the key factor in determining which direction its future price will take.