Dogecoin reached its historical high of $0.7390 in May 2021.
Now, in 2024, DOGE is testing this important zone in the Gaussian channel again, currently trading at $0.375. If history repeats itself, Tardigrade predicts an 'incredible pump,' potentially pushing the price to new highs. Its chart suggests a possible rally to the $11 mark. Notably, this would mean a rally of 2,852% from current prices, still significantly lower than the spike of 2020/2021.
In the meantime, Crypto Yapper focused on the short-term price action, sharing an hourly chart that shows a symmetrical triangle pattern. This pattern formed after Dogecoin fell from a peak of $0.4385 earlier this month.
The analyst suggests that a breakout could occur within hours and expects it to be followed by a 'massive price explosion.' If DOGE surpasses the resistance at $0.4385, it could target higher levels, with $0.50 and $0.55 serving as psychological benchmarks.
Bark supported Crypto Yapper's comment with an analysis of a similar symmetrical triangle on the four-hour chart. However, the longer timeframe indicates a more significant breakout potential.
Bark describes this breakout as 'historic.' As DOGE is currently held above the support level of $0.35, the analyst sees minor resistance hindering movement to $0.50 or higher once the triangle is broken. Analyst Ali Martinez also recently highlighted that DOGE still has more room to grow.
