Dogecoin's price is currently oscillating near the support level of the descending triangle pattern, which often signals significant volatility. The price is not weak; instead, it is building energy, possibly paving the way for a breakthrough above the $1 mark.
Analysts are bullish: Dogecoin may surge to $1.
Well-known crypto analyst Tardigrade is optimistic about Dogecoin, believing that this leading meme coin is about to break out, targeting $1. The chart he shared shows that Dogecoin has touched the support level of $0.1369 three times, forming the bottom of a descending triangle, while above it is a descending resistance line connecting the $0.4835 high from December 2024.
Tardigrade pointed out that this pattern is similar to the breakout at the beginning of 2024, when Dogecoin surged from $0.0938 to $0.48, perfectly hitting the 2.786 Fibonacci extension level ($0.468).
Predictions indicate that if Dogecoin replicates this pattern, it may again surge toward the 2.786 Fibonacci target level, which is $1.09, more than four times the current market value. The '1-2-3' price structure on the chart (multiple tests of support) further supports bullish expectations, and after confirming the third bottom, Dogecoin remains within the triangle, potentially preparing for explosive growth. The dashed arrow outlines the breakout path, with expectations that Dogecoin will surge to $1 by the end of 2025.
Historical patterns suggest a potential of $4.
Tardigrade's macro analysis reveals that Dogecoin's current trend is highly similar to the cycle from 2015 to 2018. During that time, Dogecoin rose from $0.0003 to $0.009 after a long accumulation period and surged along an upward trend line.
Currently, the rounded bottom formation from 2022 to 2025 is similar, indicating potential for similar gains. Analysts expect Dogecoin may first rebound to $0.42, then target a mid-term goal of $1.46. If the breakout is successful, the price could soar to $4, a 2400% increase from the current level of $0.16.
Dogecoin is gaining momentum within a descending triangle, with technical patterns and historical fractals pointing to a potential surge. The short-term target is $1, with a long-term goal possibly reaching $4. Investors should closely monitor breakout signals.
