Dogecoin Price Could Surge Above $1 As It Repeats This Trend From 2023-2024
The Dogecoin worth could also be poised for a significant rebound, as a well-known long-term sample has emerged on its chart. According to technical evaluation, the construction appears to be like nearly similar to a setup that triggered a serious breakout in its earlier cycle, from 2023 to 2024. With Dogecoin at present at an important assist degree that when marked the beginning of its final sustained rally, a crypto analyst has projected that the meme coin might enter a new bullish phase, doubtlessly driving it above $1.
Past Pattern Foreshadows Dogecoin Price Surge To $1
Crypto analyst Trader Tardigrade has predicted that the Dogecoin worth might quickly surge to $1.10 from its present $0.15 on this cycle. In a current X put up, he highlighted that Dogecoin’s weekly chart has settled on its assist trendline for the third time within the present 2021-2026 cycle.
The chart reveals DOGE’s worth reaching this key degree after a prolonged pullback, making a construction much like the one which shaped in late 2023. At the time, this sample marked the start of a gradual however constant uptrend that lasted all through 2024, finally creating the meme coin’s mid-cycle vary peak.
The historic comparability between the 2023 – 2024 cycle and the current cycle is evident on the analyst’s chart. In the earlier cycle, Dogecoin accomplished three closes on the assist zone earlier than sharply reversing upward. The newest weekly sample mirrors the precise alignment, with worth tightening round a rising trendline whereas forming increased lows.
Trader Tardigrade additionally famous that the earlier cycle’s gradual bull run started from the identical setup. Notably, the chart highlights a big boxed area representing the projected 2024 to 2025 section, the place a widening worth construction means that Dogecoin might nonetheless have room for an upward move. If historic patterns repeat as anticipated, the meme coin might provoke one other powerful leg up above $1 by 2026.
Dogecoin’s Bullish Thesis Strengthens After Channel Break
Trader Tardigrade has additionally highlighted an necessary enchancment on Dogecoin’s lower-timeframe chart, indicating a shift from a downtrend. The two-hour chart setup reveals a breakout from a Descending Channel that had beforehand managed worth actions in the course of the meme coin’s current decline. The breakout is seen because the white worth line pushes above the Descending Channel’s higher boundary, signaling a possible shift in short-term momentum.
According to Trader Tardigrade, technical indicators such because the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) assist this shift. While the RSI has damaged above its resistance zone, the MACD histogram reveals a buildup in optimistic momentum, with bars increasing upward.
The analyst has defined that Dogecoin usually begins its largest bull rallies with early indicators on the LTF earlier than spreading to the upper time frames. With momentum rising, Trader Tardigrade believes the DOGE worth could already be initiating an uptrend.
