This Dogecoin Chart Formation Could Send It Soaring Past $1
Investors are once again attracted by Dogecoin (Doge). This time, analysts have discovered a pattern that can make the famous meme coins fly over the long-awaited $1 mark.
Doge Its all-time high was $0.74 during the 2021 Bulls run, but it will be difficult to return to that level since then. But now, a market expert believes that it may happen again in the past, and this time it is a bigger benefit.
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Point out the fast growth pattern
Crypto analyst Chandler said Dogecoin has followed a familiar cycle since December 2023. There are three main parts of the cycle: breaking through new highs, a brief pullback, and then a sharp rebound beyond the previous peak. This pattern has happened twice, and if it happens again, Doge may be greatly restored.
The recent $0.85 high followed by a pullback, suggesting that the next step could push Dogecoin to an estimated $1.80, up more than 112% from its last peak.
While the price model does not guarantee future performance, Dogecoin’s explosive rally history has caused a driving force for hype, speculation and retail enthusiasm, which makes this justified.
In the past year, every high $ DOGE Manufacturing is 112% higher than the previous one. Above the last-rate 112% make our price $1. 🚀🌕 pic.twitter.com/al8d86ugq0
– Chandler ⚡️ (@chandlercharts) January 26, 2025
Market sentiment and psychological barriers of $1
Overcoming $1 has long been a psychological and technical barrier for Dogecoin. Even if it’s like Elon MuskThe efforts before 2021 were unsuccessful.
However, given the continued success of Bitcoin and the momentum of altcoin acquisition, another breakthrough situation seems to be developing.
mood It is an important factor in fluctuations of domycin. Doge has made nearly 200% profit over the past year, surpassing Bitcoin’s 110%. The possibility of exceeding $1 is not only conceivable, but may happen earlier than most people expect.
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Be careful with the hype
Historical patterns can provide useful insights, but are not entirely reliable. Dogecoin prices are still very Variableexternal variables (such as macroeconomic conditions, regulatory changes and larger market trends) will have an impact on their movement.
Investors interested in participating in expected breakthroughs should act with caution when assessing risks. Profits may be considerable, but due to the speculative nature of Dogecoin, the pullback may be equally rapid.
But the upcoming months could be a pivotal moment for the original meme coins, with Doge’s chart showing signs of life and a $1 barrier approach.
At the time of writing, Doge trades at $0.2671, Up 5.7% and 2.8% In daily and weekly frameworks.
Featured images by Gemini Imagen, charts by TradingView
