Dogecoin Forms Bull Flag; Break Above $0.09 Could Trigger 30% Rally

Dogecoin is forming a bull flag pattern on its chart, a setup that typically signals an uptrend may continue.

Digital-asset analyst Ali Martinez wrote on X, formerly Twitter, on August 28 that the pattern appears to be taking shape on Dogecoin’s one-hour chart. He identified $0.09 as the key level to watch.

A bull flag usually forms after a sharp advance, followed by a period of consolidation within a narrow downward channel. The pattern is generally viewed as a sign that the prior uptrend could resume if the price breaks above the top of that range.

Martinez also said Dogecoin could still retreat to $0.081, which he described as a major support level. Even so, he said $0.09 remains the critical price point.

A one-hour close above $0.09 would mark an upside breakout from the bull flag pattern and could lead to further gains, Martinez added. In that case, Dogecoin could rise to $0.115, implying roughly 30% upside from current levels.