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The Dogecoin DOGE indicates a potential rise towards $1, with strong technical indicators emerging. Analysts have conducted a review of historical patterns that preceded major upward waves in this meme currency, suggesting a continued bullish cycle.
The ongoing momentum forecasts indicate that the currency may reach a range of $0.60–0.70 in the near term. In the long term, models align with targets close to $1, which is an important psychological barrier.
Dogecoin on the rise to $1
Analysts have noted a recurring pattern on the two-week chart, similar to the price consolidation period in 2022-2023. The coin was trading within a descending triangle at that time and then moved sharply upward. The current structure is repeating, with the price breaking the descending trend line, indicating a potential bullish expansion.
The coin has recorded a series of consecutive higher lows, indicating fundamental accumulation. Testing support areas has encountered steady buying pressure, reflecting traders' confidence and reduced downside risks.
It is noteworthy that previous price consolidation periods often paved the way for strong bullish waves, and DOGE seems to be approaching a similar turning point. Analyst EtherNasyonaL pointed to the formation of an ascending wedge on the three-day chart, which usually precedes significant breakout periods.
According to the analyst, DOGE is approaching the upper limit of the channel, where a decisive breakout will lead to the next wave. If confirmed, this scenario could support the coin's rise to $0.70 and then to the $1 level.
Dogecoin Adoption and Market Outlook
As for adoption, DOGE has emerged in applications such as payments and tips, as ongoing and steady integration enhances its position, while community demand supports long-term interest in it.
Additionally, general market sentiment tends to favor high-risk assets, and with Bitcoin stabilizing, liquidity is gradually flowing towards altcoins, giving them additional momentum.
Finally, we note that if the momentum continues, DOGE is expected to approach the $0.70 level in the short term, while a significant breakout could open the way towards $1.
