Crypto Analyst Says Dogecoin Is Poised To Run 100% To $0.4, Here’s When

Share This Post

The Dogecoin price has continued to trend around the $0.19-$0.2 level after encountering significant resistance from the bears at this level. This has caused a suppressed price action over the last week, stopping the meme coin’s advancement in its tracks. However, the outlook still remains bullish for the DOGE price, with crypto analysts expecting the rally to continue soon and the price to double.

Dogecoin Forms Bull Flag Pattern

The Dogecoin performance over the past month has been quite encouraging, and despite hitting a roadblock with its rally, it has continued to show bullish tendencies. The most recent of the bullish moves which the meme coin has pulled is the formation of a bull flag pattern on its chart.

Crypto analyst Trader Tardigrade revealed in an X (formerly Twitter) post that the cryptocurrency’s chart had showed something interesting on the daily chart. According to the analysis, the movements that Dogecoin has made over the last few weeks has led to a bull flag formation on the daily chart.

Now, the main driver of the rally that is supposed to follow this formation is the DOGE price breaking out from the bull flag, which is yet to happen. But as the crypto analyst explains, a breakout from here would send Dogecoin’s price at least 2x higher than its current level.

A successful break above the $0.205 level would confirm this bullish formation. However, DOGE has been unable to achieve this, still trading below $0.2 at the time of writing. This could also be a hard-won battle for the meme coin as Bitcoin’s uncertain moves continue to drag the crypto market down.

When Will DOGE Make This Move?

The month of April is expected to be bullish for the Dogecoin price, and the crypto analyst’s price shows this. The expected timeframe for the bullish breakout is sometime this month, which would put it in the next few weeks. Trader Tardigrade’s target shows an over 100% increase from the current price level, reaching as high as $0.4 in the short term.

This move could be spurred on by the Bitcoin halving happening this month, which is expected to propel bullish sentiment. Expectations for the Bitcoin price are that it will reach $80,000, and this move would no doubt pull up the rest of the crypto market, causing coins like Dogecoin to surge.

At the time of writing, the DOGE price was trending at $0.19, with a 1.61% decrease in the last 24 hours. However, on the weekly time frame, its price is up 14%, coming in second to Toncoin (TON) for the best performer in the top 10.

Dogecoin price chart from Tradingview.com

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Crypto Arena Shocker: New Presale Coin Set To Surpass DOGE and SHIB With 5x Growth Potential

The post Crypto Arena Shocker: New Presale Coin Set To Surpass DOGE and SHIB With 5x Growth Potential appeared first on Coinpedia Fintech News Right now, Dogecoin (DOGE) and Shiba Inu (SHIB) are meme

Q1 Rally: Shiba Inu (SHIB), Ethereum (ETH) and IntelMarkets (INTL) on Whales Radars – Time to Buy?

The post Q1 Rally: Shiba Inu (SHIB), Ethereum (ETH) and IntelMarkets (INTL) on Whales Radars – Time to Buy appeared first on Coinpedia Fintech News The “January pump” might be real considering

Solana (SOL), Polkadot (DOT) or Remittix (RTX)? Who Will Take Gold By The End Of January?

The post Solana (SOL), Polkadot (DOT) or Remittix (RTX) Who Will Take Gold By The End Of January appeared first on Coinpedia Fintech News The competition for dominance in the cryptocurrency market is

Bitcoin May Hit $1.5 Million By 2035 According To Metcalfe’s Law, Analyst Predicts

As Bitcoin (BTC) continues its pullback into the low $90,000 range, analysts are divided on how much further the top cryptocurrency might fall before a potential bounce However, long-term market

Bitfinex Derivatives Moves to El Salvador After Receiving License

Bitfinex, a cryptocurrency exchange, has recently moved its derivatives services division to El Salvador, transitioning customers to a new jurisdiction after receiving a Digital Asset Service

Crypto Market Today (Jan 10th, 2025): Bitcoin Shows Resilience at $94k | Altcoins Face Heat

The post Crypto Market Today (Jan 10th, 2025): Bitcoin Shows Resilience at $94k | Altcoins Face Heat appeared first on Coinpedia Fintech News The cryptocurrency market experienced a significant