Dogecoin Symmetrical triangle formation spans from 2021 all-time high to present.
The cup pattern rim and key resistance at $0.49160 line up for a possible breakthrough.
On-chain metrics show 102% surge in new addresses over past week.
TradingView analyst Akbar Karimzsfeh has identified a long-term consolidation pattern that could determine Dogecoin’s future trajectory. DOGE’s all-time high of $0.73536 on May 3, 2021, is the origin of the symmetrical triangular structure, which has been in place for several years and may be approaching resolution.
The pattern began forming after Dogecoin’s decline from its peak, with price action bottoming at $0.048 on June 13, 2022. Multiple attempts to break below this lower boundary occurred on June 5, August 14, and October 9 of 2023, but each effort failed to establish new lows.
DOGE cup formation supports accumulation thesis
A sizable yellow-shaded area known as a “cup” that extends from mid-2021 to early 2025 is at the
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