Dogecoin price has seen close to 70% dip from its December 2024 high and one might be thinking of selling off the token. A broader look at DOGE chart shows it has been following a clear pattern on the weekly chart. When you look closely, you can see that DOGE has been moving inside a broadening ascending channel.
Over the years, it has formed a series of higher lows and higher highs within this channel, suggesting a strong long-term bullish trend despite periods of deep corrections.
DOGE Price Chart DOGE Price Pattern Signals a Potential 400% Rally
Since its all-time high of about $0.73, DOGE price has seen sharp drops, but it has never broken below the long-term trendline that has been building since 2022. This trendline acts as a strong support, keeping the price above it even during tough market conditions. Each time DOGE price touches this support line, it eventually bounces back, setting the stage for a potential big rally.
The chart also shows a projected path where DOGE could move up in waves, experiencing smaller pullbacks before heading higher. If this broadening channel continues to guide price action, Dogecoin could eventually retest and even break past its previous all-time high. Although the chart does not tell us the exact timing, the structure implies that a 400% move from current levels would bring DOGE back to $0.73.
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This pattern suggests that Dogecoin price is building strength for a long-term rally. The broadening formation shows that as long as the price keeps respecting this upward trendline, the probability of reaching new highs remains intact. While volatility along the way is likely, the overall structure of DOGE price signals that a new all-time high might not be a matter of if, but when.
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The post This Chart Shows Dogecoin (DOGE) Price Is Already Programmed for an All-Time High appeared first on CaptainAltcoin.
