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Bitcoinist 2025-06-28 02:00:30

Dogecoin Price Prediction: Horizontal Support At Descending Triangle Creates Basis For Surge To $1

Dogecoin Price Prediction: Horizontal Support At Descending Triangle Creates Basis For Surge To $1

The Dogecoin price is consolidating within a key horizontal support level of a Descending Triangle pattern, known for sparking explosive moves. Rather than fading, price action appears to be compressing, setting the stage for a potential breakout above the $1 target . $1 Target Back In Play As Dogecoin Holds Support Trader Tardigrade, a prominent crypto analyst, has issued yet another bullish Dogecoin price prediction , this time speculating that the number one meme coin could be gearing up to surge above the long-anticipated $1 price target. The analyst’s chart, shared in a recent post on X (formerly Twitter), highlights the completion of a Descending Triangle pattern. On the current non-logarithmic 1D chart, Dogecoin has completed three clear touches of the horizontal support , located around the $0.1369 level. This support zone forms the base of the triangle pattern, while a descending resistance line connects lower highs back to the $0.4835 peak in December 2024. Based on Trader Tardigrade’s analysis, this structural setup mirrors an early breakout pattern from 2024, where Dogecoin surged from a similar support base around $0.0938 to nearly $0.48 in just a few weeks. At the time, this rally aligned perfectly with the 2.786 Fibonacci Extension level at $0.468. Notably, the analyst projects that if the Dogecoin price can replicate the previous cycle’s breakout behaviour and patterns, it could rally again toward the next 2.786 Fibonacci target. This time, this extension aligns with the $1.09 level, representing more than four times the meme coin’s current market value. Supporting this bullish outlook is the repeating price structure labeled “1-2-3” on the chart—a classic sign of multiple tests of support that often precede a breakout. With the third touch now confirmed, and Dogecoin still trading within the Descending Triangle’s range, the stage appears set for a potential explosive move to a new ATH . Trader Tardigrade has illustrated this projected breakout scenario on his chart using a sharply curved dotted arrow, indicating a powerful move toward the $1 region by late 2025 . Historical Fractal Points To Higher $4 Target In a more recent macro-level technical analysis of Dogecoin, Trader Tardigrade examines Dogecoin’s monthly price behaviour, highlighting striking similarities between its 2015-2018 cycle and the current multi-year pattern forming since 2022. During the previous cycle, DOGE rallied from approximately $0.0003 to $0.0026, before peaking at $0.009. This bullish structure formed right after a prolonged accumulation period, followed by a sharp vertical rally along a rising support trendline. Now, Dogecoin’s current chart setup appears to be mirroring this historical fractal , showing similar rounded bottoms and base formations between 2022 and 2025. As a result, Trader Tardigrade predicts that the DOGE price could first rally to $0.42 before hitting an intermediate target of $1.46. Once the price crosses this level, the analyst forecasts an even higher breakout toward $4, representing a staggering 2,400% rally from the meme coin’s current market value of $0.16.

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