The Dogecoin Prize has experienced significant growth and maintained a steady rise within a well -defined “channel up” pattern since December 2024. technical indicators and price measures Suggest that Dogecoin can get ready for a large price. A crypto analyst has confirmed this Hausse vision and forecast Dogecoin’s rise to its first goal of $ 0.432.
Double bottom confirms Dogecoin Price Bullish Set-Up
“Tradingshot”, a crypto -analyst at TradingView, has forecasted A new hooked target for Dogecoin and expects the Meme coin to rally over the target of $ 0.4325. According to the market expert, the Dogecoin Prize has dropped out the higher lowness trend line for its channel up pattern and formed a distinct Double bottom pattern.
The analyst shared a price chart and emphasized that the MEME coin originally traded within the channel’s pattern because it hit a price base on December 20, 2024. Usually a double bottom pattern forms near the higher low, which signals a potential for upwards upwards.
The TradingView analyst also revealed that a unique Purchase signal Always occurs when the Hodecoin price makes a double bottom near the pattern higher lowness. Furthermore, every time this double bottom pattern occurs, 4-hour Moving Average Convergence Diver’s (MACD) Shows two consecutive haussearted crosses.
Previously, Dogecoin formed two double bottoms and MACDs, which triggered a significant price collection in both cases. Then the price of the Meme coin to 2.618 Fibonacci Extension level, Mark new heights. Based on this previous trend, the analyst believes that the MEME coin may experience a similar rally because its price measure seems to repeat the same pattern for the third time.
TradingView Expert’s Technical analysis Also illuminates the role of other variable average values, emphasizes that 4-hour MA50 acts as a crucial support area while MA200 underlines a wider trend. Currently the Dogecoin price is Rebounding Outside the double bottom near the trend line, and the analyst projects a short-term rally against $ 0.4325, in line with 2,618 Fibonacci extension level.
Historical designs to trigger the price rally over $ 20
In another X postCrypto Analyst Trader Tardigrade projected one Massive price increase for dogecoin in this bull market. The analyst has based his optimistic prognosis on historical trends where Doge experienced bull coats after surpassing a former “Candle Body High” in 2017 and 2021. By that time, the MEME coin had jumped by over 3,000% and 8,000% respectively.
Based on historical trends predict traders tardigrade that if dogecoin follows a similar trend pattern, it is The price can rally to $ 8.32 before you skyrocketing to an ultimate target of $ 20.68. From writing, the price of doge is traded to $ 0.34 after decrement by over 12% in the past week. An increase in the analyst’s estimated target would require that the MEME coin rally with 2,347% and 5,982% respectively.
Image from Unsplash, chart from tradingview.com
