Dogecoin Price Consolidates After Market Bounce Near $3

A crypto specialist stated that Dogecoin has entered a consolidation zone after bouncing over $0.3. The expert expects Dogecoin to hit a new peak in 2025 at $3.4.

Dogecoin's growth slowdown, price adjustments, consolidation, and quick spikes are rather predictable. The expert indicated that Dogecoin's next large price surge frequently began after these consolidation periods, which averaged a few weeks.

Master Kenobi said in this cycle that Dogecoin has steadied inside a consolidation zone of balance after two weeks of correction, suggesting it may be ready for its next price impulse. The expert says Dogecoin is consolidating around $0.31.

The Bitcoin halving, which began in April 2024, may motivate Dogecoin to hit greater price objectives following its consolidation period.

Master Kenobi showed how Dogecoin's history patterns affect its price action and anticipated its future moves using chart analysis. The crypto analyst formed an ascending price channel on the Dogecoin chart with colored trendlines.

The blue line at the trend channel's base shows Dogecoin's price over $0.3. As a strong resistance level, the green line depicts Dogecoin's 2021 all-time high at $0.74 and its sought milestone over $1. Dogecoin also faces greater resistance and price targets from the yellow and red trendlines.

If Dogecoin can break the $0.74 ATH, it might resume its bullish trajectory to its next ATH.

Dogecoin will target $1.2, the yellow trendline in the graphic, if it breaks $0.74. The expert said Dogecoin's market valuation will surpass XRP at this pricing, solidifying its reputation as a leading cryptocurrency.

The researcher said Dogecoin's market valuation would overtake Ethereum's $411.2 billion if it reaches this ATH. He said that Dogecoin was unlikely to reach $3.4 at this stage of the bull market, but it might in 2025.

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