A cryptocurrency expert said that Dogecoin has entered a consolidation zone after rising above $0.3. The expert expects Dogecoin to reach a new high in 2025 at $3.4.
Dogecoin’s growth slowdowns, price adjustments, consolidations, and rapid spikes are largely predictable. The expert noted that the next big spike in Dogecoin’s price often began after these consolidation periods, which lasted an average of a few weeks.
In this session, Kenobi, a teacher, said that Dogecoin has stabilized within a balanced consolidation zone after two weeks of correction, indicating that it may be ready for its next price push. The expert says that Dogecoin is consolidating around $0.31.
The Bitcoin reward halving, which started in April 2024, may motivate Dogecoin to achieve higher price targets after its consolidation period.
Master Kenobi showed how Dogecoin historical patterns affect its price action and predicted its future moves using chart analysis. The crypto analyst formed an ascending price channel on the Dogecoin chart with colored trend lines.
The blue line at the base of the trend channel shows Dogecoin price above $0.3. As a strong resistance line, the green line represents Dogecoin’s 2021 all-time high of $0.74 and its desired target above $1. Dogecoin is also facing stronger resistance and price targets from the yellow and red trend lines.
If Dogecoin manages to break $0.74 ATH, it may resume its upward trajectory towards the next ATH.
Dogecoin will target $1.2, the yellow trend line on the chart, if it breaks $0.74. The expert said that Dogecoin’s market valuation will exceed XRP’s at this price, cementing its reputation as a leading cryptocurrency.
The researcher said that Dogecoin’s market valuation would exceed Ethereum’s $411.2 billion if it reaches this ATH. He said that Dogecoin is unlikely to reach $3.4 at this point in the bull market, but it could reach it in 2025.