$DOGE Coin Analysis:

Dogecoin (DOGE), the world’s largest meme cryptocurrency, has been rangebound for the past two months, trading between the support of $0.077 and resistance of $0.090.

Earlier on Monday, renowned crypto analyst Ali Martinez highlighted on X the resemblance between the current price action of DOGE and patterns seen in its previous bull markets, suggesting that if historical trends repeat themselves, we could witness DOGE initiate a parabolic breakout around April.

Martinez’s prediction is based on historical trends where such squeezes precede extremely bullish moves. Late last week, the analyst highlighted similarities between Dogecoin’s current behaviour and its actions in 2020. In that instance, DOGE broke out from a descending triangle, underwent a period of consolidation, and eventually soared by an impressive 28,770%.

“Currently, DOGE appears to be mirroring this pattern: having broken out of a descending triangle, it’s now in a consolidation phase, potentially setting the stage for another significant bull run,” he had stated.

Other analysts also shared this bullish outlook. For instance, Analyst Jon suggested that DOGE is simply following market trends, anticipating a break of the $0.09 level. Notably, the pundit noted he anticipates the price to break that initial resistance, followed by a significant “green candle” potentially reaching $0.10 before heading to $0.13.

On the other hand, in a YouTube video on Monday, analyst “VisionPulsed” discussed the potential for the price to reach $2, noting that DOGE has not yet experienced a significant pullback. He further suggested that DOGE’s price action could mirror historical trends, with a potential top around December 2023 influenced by Bitcoin breaking its all-time high.

“Once Bitcoin breaks the all-time high in my opinion, we really should see Doge take off” he stated.

Final Suggestion:

Hold till April.