Price volatility has kept Dogecoin at around $0.1. A cryptocurrency expert says the cryptocurrency’s historical chart pattern is positive despite the market turmoil. Dogecoin is expected to surge 300x to an all-time high of $30 if it stays above this trend.
Dogecoin price may rise before the rally
Cryptocurrency expert Trader Tardigrade has found a new technical pattern on the Dogecoin price chart, indicating a reversal to all-time highs. The analyst discussed the price pattern on X (formerly Twitter) on October 5, noting that Dogecoin is trading above its 200-day simple moving average.
The 200-day simple moving average is an important technical indicator of long-term cryptocurrency market trends. Trader Tardigrade compares the current Dogecoin price to its volatility from 2017-2020 based on this pricing trend.
According to the researcher, Dogecoin may have a bullish recovery as in the past. After a significant price surge from 2017 to 2019, Dogecoin entered a “pre-bullish phase” and pumped again between 2021 and 2023.
Trader Tardigrade says Dogecoin has finished another pre-bullish phase and is set to surge higher. The expert predicts Bitcoin will surge 300x to $30 before falling to $6.
Historical patterns point to another big rally.
Cryptocurrency expert Ali Martinez said in another article on X that Dogecoin’s price behavior resembles a multi-year descending triangle pattern.
Dogecoin broke out of this major triangle formation, causing the price to surge by 200%. This massive surge was followed by a 60% pullback, and the dog-themed meme coin launched an even bigger bull run.
Dogecoin’s recent price action shows a historical descending triangle pattern, indicating an upward breakout. Martinez said Dogecoin’s price has dropped by 65%, and the analyst is therefore anticipating its “next big rally.”
According to Martinez’s Dogecoin price chart, the cryptocurrency surged 229.58% to $0.00035 after breaking out of a significant descending triangle formation prior to 2017. Between 2018 and 2021, the meme coin broke out of the triangle trend and surged 138.04% to $0.00318.
