Dogecoin (DOGE) has just entered the fourth stage of the parabolic shape—this critical stage often indicates that the price may surge significantly. Despite recent market declines, technical analysts believe this stage may pave the way for explosive price growth, approaching the coveted $1 mark.
Dogecoin is expected to break through $1
According to the technical forecasts of cryptocurrency analyst Trader Tardigrade, Dogecoin still has the potential to reach the long-awaited $1 mark. The recent price action of this meme coin seems to align with the classic parabolic shape—this formation indicates that each consolidation phase will accelerate upward momentum.
According to Trader Tardigrade's analysis, Dogecoin is entering the final phase of its fourth stage parabola, having just broken through the bottom wedge (Base 3), which served as a retracement area after the previous bounce. This trend aligns with the parabolic model depicted in the analyst's price chart, where the price action forms a stair-step bottom, tightening the structure and leading to increasingly aggressive upward movements.
The chart pattern begins at a long-term bottom and gradually advances from 1 to 4 points, each marked by a consolidation period and decreasing volatility within a downward-sloping wedge. The red arc drawn on the chart represents the expected parabolic trajectory of Dogecoin, with the current upward trend of this meme coin progressing towards 4 points.
Source: Trader Tardigrade on X
Historically, this stage often indicates that prices will see the largest increases as investors begin to react strongly to bullish sentiment. The chart predicts that Dogecoin (DOGE), currently trading above the Base 3 breakout point, may recover higher levels and could potentially break through $1 for the first time since its inception. Notably, this forecast emphasizes that Dogecoin could potentially surge to over $1.7 by the end of the year.
Trader Tardigrade also pointed out a key liquidity area on the chart, slightly below $0.187. A brief drop in this area to acquire liquidity could serve as a springboard, further validating the bullish argument that could lead to a rise to $1. This is expected not to be a short-term spike, but rather part of a broader, well-structured formation that may result in a significant price increase. If past patterns develop as expected, a potential historic breakout could be imminent.
Dogecoin price trend update
Like most meme coins in the market, Dogecoin has been struggling to overcome bearish factors and break through the $0.2 mark. According to CoinMarketCap data, Dogecoin's current trading price is as low as $0.17, but its value has significantly shrunk by 14.14% over the past week.
In the past 24 hours, Dogecoin (DOGE) has dropped another 7%, reflecting overall market weakness and increased volatility. Data from CoinCodex also shows that Dogecoin's volatility currently stands at 8.69%. The crypto data analysis platform also notes that overall market sentiment has turned bearish, with Dogecoin's fear and greed index indicating uncertainty across the entire market.
