DOGE Price Breaks Long-Term Channel, Kills $15 Target
Analyst Ali Martinez has declared that the $15 Dogecoin target he's been tracking since its early days is dead. This comes after DOGE broke below a long-term rising channel, which defined the price action since inception and was the technical foundation behind the $15 thesis.
The channel in question is a parallel one that has marked generational buying opportunities every time the price touched its lower boundary. In 2017, Dogecoin's price surged by 9,221%, while in 2020 it rose by 30,694%. When DOGE returned to this support level in February 2023 (the source actually says 2026 but this is likely an error), the setup pointed to another historic run with $15 as the projected target.
The OG meme coin was trading around $0.0806 at the time of writing, down about 6.6% for the week and 3% on the day, sitting just below the $0.0813 level several analysts had flagged earlier this month as the line to hold. Against Bitcoin, the token is almost flat, down about half a percent.