🤑 Dogecoin enthusiasts, get ready! Crypto analyst Trader Tardigrade has ignited the Dogecoin community with a bold prediction: DOGE may be on track to hit $10. This forecast is based on a familiar pattern that has caused the meme coin to soar in previous bull markets. That's why a 6,150% rally may be on the horizon.
🔶 Falling wedge pattern – a powerful setup
According to Trader Tardigrade's latest analysis on X (formerly Twitter), Dogecoin has once again formed a falling wedge pattern on the monthly chart, reflecting movements of previous cycles. The last time this pattern appeared, Dogecoin surged to its all-time high of $0.73 in 2021, resulting in an incredible parabolic move. Could history repeat itself?
The falling wedge, a classic bullish formation, is usually accompanied by a breakout, and Tardigrade believes this could push DOGE to the mythical $10 mark as momentum builds.
🔶 Other analysts join the bullish chorus
Not only Trader Tardigrade is optimistic. Crypto analyst Dima James has also hinted at the possibility of DOGE rallying to $10 or even higher by 2025. James sees $36 as a target level, emphasizing that broader adoption of Dogecoin will be key to reaching such new heights. As more retailers and businesses integrate DOGE, the path to $10 seems more plausible.
Meanwhile, Master Kenobi – the analyst who accurately predicted the start of the previous DOGE bull rally – believes that the upcoming US elections on November 5 could be a catalyst. He suggests that a breakout could happen before election day, catching many traders off guard. If not, he expects a consolidation phase before the next big jump.
🔶 Short-term target: $0.22 and above
In the short term, Crypto Daily, another well-known analyst, believes the next DOGE breakout could reach $0.22. He points to a large 'cup and handle' formation on the daily chart, dated June 2024. This formation, with support at $0.15, could trigger a strong rally if it holds. A breakout at $0.22 could be just the beginning if bullish momentum continues.
🔶 November rise or year-end rally?
Anticipation is growing, with many analysts pointing to November as a key month for Dogecoin. Ali Martinez, a respected name in crypto analysis, noted a key resistance level at $0.169. If Dogecoin surpasses this level, he predicts a 27% rally, pushing DOGE to $0.209. This November could be a turning point for Dogecoin, with the potential for massive profits.
And if that's not enough, Kevin Capital, a self-proclaimed Dogecoin analyst, added his prediction: DOGE could reach $0.5 by the end of the year if Donald Trump wins the US presidential election. Talk about a wild card!
🚀 Historical opportunity?
Considering that Dogecoin is repeating its 2021 model, many analysts expect massive breakouts, and potential catalysts like the US elections make DOGE ready for an exciting ride. Will it reach $10 or perhaps even $36? The only certainty is that Dogecoin hasn't stopped surprising us yet.
📢 Stay tuned, Binance traders! DOGE may be gearing up for its next big move.
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