Dogecoin price continues to try to rally significantly towards the much anticipated $1 mark. Amid this bullish trend, a crypto analyst has shed light on a unique technical pattern. Dogecoin price chart Known as “round bottom”. As Dogecoin carefully builds this pattern, the analyst predicts that a Significant price increase Next
Dogecoin price is poised to soar above $1
A TradingView crypto analyst has been identified as “CobraVanguard”. saw A rounded down technical pattern on the Dogecoin price chart. The analyst revealed that Dogecoin is currently forming this breakout pattern, and after its completion, it could trigger a price rally above $1.
CobraVanguard pointed to the influence of the CEOs of SpaceX and Tesla Elon Musk on Dogecoin, highlighting that DOGE was the first meme coin to receive backing from a genius billionaire. The analyst also shared a price chart in his support Dogecoin price analysis and bullish forecast.
In the price chart, Dogecoin builds rapidly Round bottom pattern Over a weekly time frame. The curve shape on the chart shows the round bottom pattern, which started after Dogecoin’s historical price increase. The last bull ran in 2021. Following this surge, Dogecoin’s price experienced a series of ups and downs, marked by periods of decline, recovery, and stability.
The analyst’s chart also showed a red zone at $0.68, possibly indicating Dogecoin’s next price target and resistance level. After Dogecoin rose to $0.68, CobraVanguard predicted that the popular meme coin could experience a Massive rally above $1Typically between $1.2 and $1.5.
The price chart also quoted Musk, possibly suggesting that Tesla’s CEO support and influence The meme could increase the coin’s potential growth to the $1 target. Overall, the TradingView analyst declared that investors and traders should “prepare to fly with DOGE” as it is poised for this potential rally to new all-time highs. At the time of writing, Dogecoin price is trading at $0.44, representing a slight 5.13% decline in the past 24 hours.
Whales do other dodge gobbles
Dogecoin price, amid bullish sentiment surrounding the crypto whale Actively collect DOGE tokensThe meme indicates increased confidence in the coin’s potential to move higher. Generally, one Increase in demand for whales A signal for a cryptocurrency that investors expect significant price increases soon.
According to X Social Media Account, “CEO,” Dogecoin’s Biggest Whale Added 1.5 million DOGE tokens for their holdings. This significant rallying trend comes as analysts share bullish price projections for the Dogecoin price in this bull market.
A noteworthy one Price forecast As suggested by “Doge Lord” on X, meme coin will continue to climb to new highs right now. Fast season. The analyst outlined three key Dogecoin price targets: $0.69, $1, and a potential high of $4.2.
Featured image created with Dall.E, chart from Tradingview.com
