Dogecoin finally seems Crossed its detailed integration phase with Return of greed iIn the crypto market. Interestingly, technical analysis of the Dogecoin price chart shows that this greedy sentiment is about to push the meme coin into a parabolic rally that will send it to new all-time highs.
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The rally is from a projection of the “Power of 3” concept, with recent price action pushing Dogecoin into a split phase.
Power of 3 pattern points towards bullish momentum for Dogecoin
The Power of 3 Patterns is a technical analysis concept that divides the price cycle into three distinct phases of accumulation, manipulation and divergence. These stages are each different in their price performance. The cumulative phase, which is the first phase of the pattern, is characterized by consolidation around one recent high after another. Strong upward price action.
Next is the manipulation phase, where the price action breaks below the support of the cumulative phase and starts trading within a range just below this support. The distribution phase is the last phase, characterized by a strong price breakout in an upward direction as momentum increases and a large number of participants enter the market.
Accordingly Technical analysis of Dogecoin price action by crypto analyst Trader Tardigrade has shown two consecutive power of 3 patterns on the DOGE daily chart. The first pattern is fully completed and played out during the months of March to November 2024, with the upcoming split phase pushing Dogecoin to multi-year highs.
The second pattern started shortly after the first ended and is now nearing its final stage. The rally phase for this pattern lasted from early November to mid-December, during which Dogecoin declined at $0.48 and began consolidating around $0.48 to $0.4. it was After the manipulation phaseThat continued from mid-December to the first weeks of January when Dogecoin broke below $0.4
Recent positive price movements indicate that Dogecoin has now moved out of the manipulation phase and is now in the distribution phase. If history were to repeat itself, Dogecoin could experience another parabolic rally from here, driven by increased market participation and growing bullish sentiment.
Breaking the Consolidation: 2017 Parallels
Trader Tardigrade predicts that the split phase will send Dogecoin’s price above its current all-time high of $0.7316 and eventually above the $1 mark. The final price target is around $1.3, representing a 225% upside from the current price.
Tardigrade Parallels also drawn Between Dogecoin’s current movement and its price action since 2017. He noted that Dogecoin has broken out of a strengthening trend in a manner similar to a breakout before its rally in 2017. If history repeats itself, Dogecoin Can reach a local peak above $3 In 2025.
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At the time of writing, Dogecoin is trading at $0.3975.
Featured images from Pexels, charts from TradingView
