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Bitcoinist 2025-01-04 04:00:05

Dogecoin Price Eyes Double-Digit Surge After Breaking Out Of 2-Week Descending Wedge

Dogecoin Price Eyes Double-Digit Surge After Breaking Out Of 2-Week Descending Wedge

Crypto analyst KrissPax has drawn the community’s attention to a bullish pattern that has formed for the Dogecoin price. In line with this, the analyst predicts that Dogecoin could soon record a double-digit price surge. Dogecoin Price Eyes Double-Digit Surge In an X post , KrissPax predicted that the Dogecoin price could enjoy a double-digit surge soon enough. This came as he revealed that Dogecoin had broken out of a 2-week descending wedge . He added that after a retracement, DOGE could enjoy a bullish reversal as it rallies back up over $0.40. This $0.40 price level is significant as the Dogecoin price formed crucial support around this range when it recorded the first phase of its bull run. As such, a rally above $0.40 could pave the way for the foremost meme coin to begin the next leg of its bull run. A run to its current all-time high (ATH) of $0.74 could be on the cards for Dogecoin, and then a rally to the much-anticipated $1 level. In another X post, KrissPax provided further optimism that the Dogecoin price is poised for a bullish reversal. He stated that Dogecoin just finished a re-test on an upward-sloping resistance line as support and is already up 6% in 2025. He added that a continuation higher is expected. The accompanying chart showed a rally to as high as $2 was on the cards. Crypto Whales also look to be anticipating a rebound for the Dogecoin price. Bitcoinist reported that Dogecoin recorded a 41% surge in large transactions , with $23.35 billion traded in 24 hours. This surge suggests an accumulation trend among these DOGE Whales. This is also bullish for the foremost meme coin, as these investors could contribute to the price recovery. A Major Pump Could Happen This Week Crypto analyst Master Kenobi has predicted that the Dogecoin price could witness a major pump this week. He noted that a cycle ago, nothing indicated the massive pump on DOGE that occurred 258 days after the Bitcoin Halving. The crypto analyst predicts that DOGE should reach at least $1.2 this week if history repeats itself. He added that the Dogecoin price could even reach $3.4 in an “ultra-optimistic” scenario. Crypto analyst Dima James also recently provided a bullish outlook for Dogecoin. He predicted that the foremost meme coin could cross the $11 mark before the end of this year. Based on historical trends, the analyst even raised the possibility of the meme coin rising to as high as $23 or even $36. At the time of writing, the Dogecoin price is trading at around $0.34, up over 3% in the last 24 hours, according to data from CoinMarketCap.

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