Although Dogecoin – the most famous meme coin on the market – has dropped 13% in the past week, many investors are still hopeful for a new growth wave about to take shape. According to renowned technical analyst Crypto Patel, Dogecoin may be preparing for a strong breakout, with the potential to rise to $1 or even higher.

Growth Signals Have Emerged

Crypto Patel notes that Dogecoin is currently forming a clear bullish pattern on the chart. Specifically, DOGE is making higher highs followed by healthy pullbacks – a pattern that technical traders often view as a sign of a sustainable upward trend.

Notably, Patel stated that DOGE has risen up to 700% from the initial entry point and is currently 68% higher from the most recent re-entry point. This is a signal that the next 'pump wave' may be forming.

Important Price Levels to Watch

One of the most notable technical milestones is the $0.22 area, where Dogecoin has successfully broken through and retested. Holding above this support level indicates that DOGE is building a solid foundation to continue breaking out in the future.

Strong Community – Superior Motivation

Unlike many other cryptocurrency projects, Dogecoin has a loyal and passionate community. The continued support from the community is a key factor that helps DOGE maintain its appeal, especially during positive market phases.

Patel predicts that with the current upward momentum, Dogecoin could reach short-term targets of $0.5 and $1. In the long term, if the trend continues, DOGE could aim for higher milestones like $2 and $3.

Second Chance for Investors?

The current context is prompting many analysts to recall Dogecoin's 'crazy' price surge in 2021 – when this coin skyrocketed by 7,000% in just a few months. While it cannot be definitively asserted that a similar increase will occur again, the current price structure is attracting investors' attention.

With Dogecoin currently trading around $0.2177, down slightly 2% in the last 24 hours, many investors see this as a 'golden opportunity' to participate in the potential growth wave of the 'king of meme coins.'

📌 Note: This article is not investment advice. Investors should conduct their own research and manage risks appropriately before participating in the market.