Conservative target price for Dogecoin would begin at $2.35

Fractal analysis suggests that a DOGE rally above $0.35 will culminate in new all-time highs above $2.35.

The price action of Dogecoin

has slowed down in the last four weeks after breaking its multi-month resistance level of $0.35 in early November.

Although the daily chart remains bullish, the crypto asset lost support at the 50-day EMA level on December 19 and has not yet regained a position above the indicator.

Despite these short-term concerns, an analyst highlighted that Dogecoin's long-term target remains significantly high in 2025 when considering its performance in the previous bullish rally.

Dogecoin's target is between $2.35 and $2.60

The CEO, an anonymous crypto investor, told his 536,000 followers on X that Dogecoin is on track for a massive rally in 2025. With the help of a weekly chart, the investor illustrated a sweep of the high and low range of previous weekly resistances and supports that occurred in the prior bullish rally.

The same pattern has repeated throughout 2024, and Dogecoin is in the final stages before a breakout rally.

Similarly, Chandler Bing, a technical analyst, said that the long-term price range of the memecoin is between $2.35 and $2.60, representing an additional gain of 683% from its current price. Although the target seemed distant at this moment, the analyst called it a conservative target.