Dogecoin Price Forecast: The Flat Floor at Descending Triangle Formation Offers Groundwork for Potential Rise to $1
In an exciting development for Dogecoin (DOGE) enthusiasts, prominent crypto analyst Trader Tardigrade has issued a bullish price prediction, suggesting a potential breakout for the meme coin above the $1 mark. This forecast, based on a comprehensive technical analysis, could see DOGE surging to $4, representing a staggering 2,400% increase from its current market value of $0.16.
The reasoning behind this optimistic outlook is rooted in several key factors. Firstly, Dogecoin is currently in a consolidation phase with low volatility and a narrow trading range. However, the third bounce observed in price action suggests that this consolidation phase may be nearing an end, potentially triggering a breakout fueled by increased buying pressure.
Secondly, the comparison to previous cycles shows that Dogecoin's price often rallies significantly after extended consolidation periods, with past rallies exceeding 100% gains from lows. This cyclical pattern underpins the expectation of upward momentum in the coming weeks.
Trader Tardigrade's overlays of cyclical structures place the bullish window in mid-2025, where the breakout could push prices beyond key resistance levels around $0.30–$0.35 first, before progressing toward higher targets.
The technical setup mirrors the previous Dogecoin bull runs, where the price followed a stair-step pattern of accumulation, bounce, and rally. This pattern supports Trader Tardigrade's view that crossing $1 could lead to a subsequent exponential surge, potentially reaching $4.
On the current non-logarithmic 1D chart, Dogecoin has completed three clear touches of the horizontal support around the $0.1369 level. The potential explosive move to a new All-Time High (ATH) for Dogecoin is based on the confirmed third touch of the horizontal support and the projected breakout scenario illustrated by Trader Tardigrade.
The repeated price structure labeled "1-2-3" on the Dogecoin chart is a classic sign of multiple tests of support that often precede a breakout. 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.
In a more recent macro-level technical analysis, Trader Tardigrade has highlighted striking similarities between Dogecoin's 2015-2018 cycle and the current multi-year pattern forming since 2022. He has illustrated a projected breakout scenario for Dogecoin on his chart, using a sharply curved dotted arrow, indicating a powerful move toward the $1 region by late 2025.
This bullish outlook for Dogecoin is supported by the repeating "1-2-3" price structure and the historical fractal comparison. As always, it's important to remember that while these predictions provide insight, they are not guarantees of future performance.
[1] Source: TradingView [2] Source: CoinMarketCap [3] Source: Investopedia
Investors looking at Dogecoin (DOGE) might see an opportunity for high returns, as Trader Tardigrade's prediction suggests potential investing in the meme coin could lead to a significant increase, with a bullish price estimation of up to $4. This potential surge is based on the technical analysis, including the third bounce observed in price action, the cyclical pattern, and the confirmed third touch of the horizontal support.
