Dogecoin Price Could Reach $30 After 300x Run If Pattern Holds
Price swings have kept Dogecoin around $0.1. A crypto specialist says the cryptocurrency's historical chart pattern is positive despite market turbulence. Dogecoin is anticipated to go 300X to $30 ATHs if it stays above this trend.
Pre-Rally Dogecoin Price May Pump
Crypto expert Trader Tardigrade found a new technical pattern in Dogecoin's price chart, suggesting a shift to new ATHS. The analyst discussed this price pattern on X (previously Twitter) on October 5, noting that Dogecoin is trading above the 200-day SMA.
The 200 SMA is an important technical indicator for long-term cryptocurrency market trends. Trader Tardigrade compares Dogecoin's current price to its 2017–2020 fluctuations based on this pricing trend.
According to the researcher, Dogecoin may have a bullish bounce as in the past. After a large price spike from 2017 to 2019, Dogecoin entered a “pre-rally stage” and pumped again between 2021 and 2023.
Trader Tardigrade says Dogecoin has finished another pre-rally and is set to rise. The expert expects the Bitcoin to rise 300X to $30 before falling to $6.
Historical Patterns Suggest Another Big Rally
Crypto expert Ali Martinez said in another X article that Dogecoin's price behavior resembled a multi-year falling triangle pattern.
Dogecoin broke out of this key triangular formation, causing a 200% price increase. A 60% retracement followed this tremendous increase, and the dog-themed meme currency launched an even bigger bull run.
Dogecoin's recent price movements show the historical descending triangle pattern, suggesting an upward breakthrough. Martinez said the Dogecoin price has dropped 65%, therefore the analyst expects its "next big rally."
According to Martinez's Dogecoin price chart, the cryptocurrency rose 229.58% to $0.00035 after breaking out of the important descending triangle formation before 2017. Between 2018 and 2021, meme coin broke out of the triangular trend and rallied 138.04% to $0.00318.
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