Cryptocurrency analyst Trader Tardigrade recently mentioned that a bullish flag pattern has formed on Dogecoin's price chart. He believes that based on this pattern, Dogecoin's price could potentially rise to $2.15 in the upcoming market cycle.
Bull Flag sets the price target for Dogecoin at $2.15.
In a post on X, Tardigrade explained that a bullish flag has formed on Dogecoin's daily chart, with prices tightly consolidating within this flag. He also mentioned that the target extension for this flag is $2.15. Interestingly, the chart he shared indicates that the time frame for Dogecoin to reach this target could be by the end of the year.
Dogecoin's price seems ready to embrace this wave of increase. In another post on X, trader Tardigrade mentioned that Dogecoin may be forming a double bottom chart pattern. He indicated that Dogecoin has established two equal lows, with the neckline around $0.46, which will become a key resistance level for a price breakout.
Cryptocurrency analyst Tardigrade recently pointed out that Dogecoin's price seems to be gaining more buying momentum due to a bullish crossover in the MACD indicator. He believes Dogecoin is likely to break the resistance level of $0.46 and rise to around $0.5 in the next bullish rebound.
From the bullish flag pattern on the Dogecoin price chart, this rise to $0.5 may just be the beginning of an increase towards $2.15. Notably, Tardigrade previously predicted that Dogecoin could soar to $30 during this market cycle, and he suggested that investors consider taking profits when the price reaches $10.
As for Dogecoin's next move, crypto analyst KrissPax has also provided his perspective.
He stated that based on the double bottom pattern on the Dogecoin chart and past price trends, Dogecoin may rise before Monday and continue to increase before Christmas. However, KrissPax warned that there could also be a short-term price correction.
Like Tardigrade, KrissPax highlighted the bullish flag pattern on the Dogecoin daily chart. He believes this bullish signal indicates that Dogecoin's price is expected to break $0.69 by the end of the year, and it could even surpass the current all-time high of $0.73.
Cryptocurrency giants seem to be preparing for a price increase in Dogecoin! Analyst Ali Martinez revealed that these large investors have been frantically buying 160 million Dogecoins in the past 24 hours.
According to CoinMarketCap data, Dogecoin's price is currently around $0.4, having risen over 1% in the past 24 hours.
