Dogecoin (DODE) is predicted to be On the edge of a new breakout As its price action replicates the same hausse -like wave that preceded its explosive rally at the end of 2024. After months of lateral movement and baissearted pressure, the main memed coin shows renewed strength, suggesting at the beginning of a significant upward cycle that can drive out the price beyond the price Long-looking $ 1 goal.
Dogecoin predicted to increase 591% to $ 1
According to a newly issued analysis by TradingView Analyst Master Ananda, Dogecoin exhibits strong technical patterns that closely reflect its last major Bullish Breakout from November 2024. The analysis shows that it has been over 217 days since the Meme coin lastly delivered a powerful rally, but it now stands at the verge of another Explosive move. The projected Fibonacci extension is aimed at Doge as high as $ 1,168, which would represent an increase of 591% from current levels.
Especially after the prolonged bear market that began to follow Dogecoins 2021 all the timeThe Meme coin showed signs of life in early 2024, but the real momentum came in late 2024. The same installation will return in mid-2025 in the current bike. Since March, Master Ananda revealed that Dogecoin’s price measure Have entered a quiet phase without any significant profits but also no deep corrections, which establishes a relatively solid foundation.
Between May and June, Meme met coins for eight weeks of Baiss printNevertheless, it maintained a critically higher low -level low, signal strength and accumulation. Over the past three weeks in a row, Master Ananda’s chart shows that Dogecoin has printed green light, and this week’s full green light at the top signals that a breakout can be imminent.
The chart analysis draws clear parallels until October 2024 and the beginning of 2021 – period of low volatility that preceded Parabolic rally. If History is repeatedDogecoin was able to again deliver astonishing returns, with Predictions that indicate an upturn to and above $ 1. Important Fibonacci resistance levels have been detected about $ 0.212, $ 0.313 and finally $ 0.394.
Dogecoin is aimed at $ 0.349 after breaks over EMA89
In a subsequent analysis report, Master Ananda revealed that Dogecoin has confirmed the beginning of a long -term Haussey trend After managing to close over EMA89, signaling new growth and one varying market structure in favor of bulls. In particular, this critical level of resistance has been represented by the blue dotted line on the daily chart.
The TradingView analyst has noted that the next key level to look at is EMA233, which, once broken with a daily closing, will confirm further continued upward speed And a complete transition to a long -lasting haussey phase. Dogecoin currently deals with about $ 0.2, with the short term of $ 0.265 and $ 0.349. Both of these goals are in line with significant Fibonacci resistance zones and the latest structural heights.
Image from Getty Images, Chart from TradingView
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