Dogecoin breaks through a 3-year milestone, may soar 500% by 2025!
Dogecoin is currently gaining momentum, having not only broken through the 3-year milestone, but its price may also skyrocket by 500% by 2025!
Dogecoin's price rose over 75% in October, soaring to $0.172, marking a new high since May! Looking at Dogecoin's technical pattern, by 2025, the price might reach $1!
What does Dogecoin's breakthrough of the 3-year channel mean? Simply put, it had been trapped in a huge symmetrical triangle pattern, and now it has finally broken out! This symmetrical triangle is a continuation pattern in technical analysis, usually indicating a continuation of the previous trend. Dogecoin has done this before, having broken through the upper trend line between 2020 and 2021, leading to a 31,375% increase! This breakthrough could potentially bring another wave of significant growth!
Looking at Dogecoin's weekly Relative Strength Index (RSI), it's also a key indicator supporting a bullish outlook. In July, the RSI rebounded from a historical support level around 46. Previously, RSI rebounds were caused by support rebounds, and this time it may continue to rise! If this breakthrough can stabilize, Dogecoin's price might really reach $1-2! That would mean a 500-1000% increase from the current price!
However, if Dogecoin falls below the upper trend line of that huge triangle, it may get stuck in that range. It could first drop to the $0.09-$0.07 range, aligning with the 50-week EMA and the lower trend line of the triangle.
Dogecoin's recent surge may also be related to Elon Musk and Donald Trump. Musk attended Trump's New York campaign rally on October 27 and discussed plans to save $2 trillion in taxpayer funds. Interestingly, the acronym of the agency he founded, 'Government Efficiency Department,' is the same as Dogecoin's stock code DOGE!
Recently, I plan to set up a position for a potential coin that is ready to explode, doubling my investment should be quite simple, and I also plan to find some potential coins to hold until the end of the year, expecting a return of over 10 times is not a problem. If you want to keep up, leave a message, follow, like, and share freely.
