Dogecoin has been fluctuating around the $0.10 mark, but a renowned crypto analyst suggests that the meme coin's historical chart patterns remain strong despite recent market turbulence. If Dogecoin maintains its current trend, it could experience a massive 300x increase to reach a potential $30 all-time high (ATH).
đ Pre-Rally Dogecoin Pump Incoming? đ
The crypto expert, known as Trader Tardigrade, identified a new technical pattern in Dogecoinâs price chart, pointing to a potential rally towards new ATHs. The analyst shared this insight on X (formerly Twitter) on October 5, highlighting that Dogecoin is currently trading above the 200-day Simple Moving Average (SMA) â a key indicator for long-term market trends.
đ Following Past Trends? đ
Trader Tardigrade compared Dogecoinâs present price action to its movements between 2017 and 2020, when the coin entered a âpre-rally stageâ and experienced a major price surge. If history repeats itself, Dogecoin could see a similar bullish move. The expert predicts that after the rally, Dogecoin might skyrocket 300x to hit $30 before correcting back to around $6.
đ„ Historical Patterns Indicate a Major Bull Run đ„
Another crypto analyst, Ali Martinez, noted that Dogecoin's current price activity resembles a multi-year falling triangle pattern. This pattern previously led to a 200% breakout, followed by a 60% retracement, before launching Dogecoin into an even bigger bull run.
Martinez's analysis shows that Dogecoin has previously gained 229.58% after breaking out of the descending triangle before 2017, and rallied another 138.04% after a similar breakout between 2018 and 2021. The recent price behavior suggests that Dogecoin may be gearing up for its "next big rally."
đ Ready for the Next Surge? đ
With Dogecoin breaking out of key technical patterns, the stage may be set for another massive rally. If the analysts' predictions hold true, Dogecoin could be poised for a historic surge â one that could propel it to levels never seen before.
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