Dogecoin (DOGE) — the original meme cryptocurrency — has once again seized the spotlight in the crypto market. Technical analysts and traders are pointing to a classic “cup and handle” formation on DOGE’s price chart as a potential trigger for a major upside move, with projections suggesting a rally of up to 50 % if key resistance is cleared. At the same time, closely correlated meme tokens Shiba Inu (SHIB) and BONK are forming their own breakout structures, raising hopes of a broader meme-coin season revival. bitget.com
What Is the Cup and Handle Pattern?
In technical analysis, a cup and handle is a bullish continuation pattern marked by:
A rounded bottom forming the “cup,” indicating a period of consolidation and accumulation.
A smaller pullback or sideways movement (the “handle”) before a breakout above resistance. �Wikipedia.
When validated with strong volume and demand, this pattern often precedes a significant advance as buyers step in once resistance levels are decisively breached.
Dogecoin’s Setup: Bullish But Watching Resistance
According to recent price data and chart analysis:
The cup portion of DOGE’s pattern formed through early February.
The subsequent handle consolidation has respected support near $0.103.
The key breakout level sits near $0.117, which also aligns with a down-sloping resistance trendline. �bitget.com
If DOGE climbs above $0.117 with conviction, technical projections point toward a move into the $0.18 range — roughly a 50 % increase from current prices. This kind of breakout could re-energize bullish sentiment across the broader crypto sector. �bitget.com
At the same time, on-chain metrics suggest “strong hands” are increasingly supporting DOGE, with large holders adding to positions while short-term traders reduce exposure. This shift — often viewed as a sign of conviction — may fortify the pattern’s bullish implications. �
SHIB and BONK: Correlation and Breakout Patterns
As the largest meme coin by market share, Dogecoin’s price trends have historically influenced the wider meme token space. Recent data shows very high correlation between DOGE, SHIB and BONK — near 0.97–0.99 over the past month — meaning these assets tend to move in close tandem. �bitget.com
BONK: On shorter timeframes, BONK is forming an inverse head-and-shoulders pattern — a bullish reversal setup. A confirmed breakout above the neckline near $0.0000075 could project gains of around 43 %. �BeInCrypto
Shiba Inu (SHIB): SHIB’s chart shows a bullish flag pattern — a brief pause after a rally that historically precedes continuation. Breaking above the flag’s resistance around $0.0000069 could similarly send prices toward notable upside levels. �BeInCrypto
These technical structures set the stage for what traders hope will be a synchronized breakout across meme tokens — provided Dogecoin’s own pattern confirms first.
Risks and Invalidations
Even with promising setups, analysts caution that patterns are not guarantees:
A drop below around $0.098 in DOGE would weaken the cup-and-handle thesis.
Falling under $0.091 could fully invalidate the structure and signal deeper correction.bitget.com
Macro crypto market conditions, liquidity flows, and broader sentiment — especially around Bitcoin and major altcoins — will also shape what happens next.
What This Could Mean for Meme-Coin Season
Should Dogecoin break above key resistance, it wouldn’t just benefit DOGE itself. Given its leadership position in the meme coin ecosystem, a decisive breakout could act as a catalyst for SHIB, BONK and other related tokens to follow suit. That’s why traders and market observers are watching this technical setup so closely.
Disclaimer: This article summarizes current market structure and patterns; it is not financial advice. Cryptocurrency markets are volatile, and you should conduct your own research before making any investment decisions.#TradeCryptosOnX #CPIWatch #USJobsData
