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✨Dogecoin Second Bull Flag Structure To Take Doge to $0.90✨
The latest Dogecoin rally has positioned the meme coin among the top gainers, with analysts pointing to further upside amid a bull flag formation.
Trader Tardigrade, a market expert, recently shared an analysis pointing to $0.90 as Dogecoin’s next target, citing the formation of a second bull pennant pattern on the 2-hour price chart.
The First Dogecoin Bull Pennant
The first bullish pennant formed between Nov. 5 and 7. This pattern began with an initial surge from $0.1677 to $0.2187, coinciding with market optimism following a significant geopolitical event—the victory of Donald Trump in the U.S. elections. This rally created the flagpole of the first pennant.
Dogecoin Forms the Second Bull Pennant
Following the rally to $0.4389, Dogecoin dropped and entered another consolidation phase. The latest price action mirrors the first bull pennant structure, with the recent surge forming a second flagpole. This rise, which pushed DOGE from $0.3 to $0.4389, set the stage for the ongoing consolidation.
Trader Tardigrade anticipates that this second pennant will soon lead to another breakout. If the formation plays out as expected, Dogecoin’s price could potentially skyrocket to $0.9. This projected move represents a 139% gain from its current level, similar to the magnitude of the first pennant’s breakout.
At press time, Dogecoin currently changes hands at $0.3752. One factor that could support the potential push toward the $0.9 level is a renewal of whale accumulation. The Crypto Basic confirmed yesterday that DOGE whales recently procured 160 million tokens in 24 hours.
