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Crypto analyst Trader Tardigrade has highlighted a bullish pattern in which the Dogecoin price formed in previous bull cycles. Based on this, the analyst raised the possibility of the foremost meme coin rising to as high as $10.
Dogecoin Price Repeats Falling Wedge Pattern
Trader Tardigrade revealed in an X post that the Dogecoin price had repeated a falling wedge pattern on the monthly chart. He added that a parabolic move is set to follow the falling wedge breakout. His accompanying chart showed that Dogecoin could rally to $10 as this parabolic move occurs.
The Dogecoin price also experienced parabolic moves in the 2021 and 2017 bull runs when a breakout following the falling wedge pattern formed on the monthly chart. In 2021, the price breakout led to Dogecoin hitting its current all-time high (ATH) of $0.73 in that market cycle.
Crypto analyst Dima James has also raised the possibility of the Dogecoin price rallying to $10. He stated that he expects the DOGE recovery to extend into 2025. Interestingly, he suggested that Dogecoin could even rally above $10 and rise to as high as $36. However, he noted that Dogecoin adoption would play a crucial role in pushing the meme coin to new heights.
Meanwhile, crypto analyst Master Kenobi, who predicted the start of the Dogecoin bull run, has said that the price could enjoy a massive move to the upside ahead of the November 5 US elections, catching many off-guard in the process. However, if that doesn’t happen, he expects the meme coin to consolidate for around 30 days before it enjoys another price breakout.
The Next Breakout Could Send DOGE To $0.22
Crypto analyst Crypto Daily has predicted that the next Dogecoin price breakout will send the meme coin to $0.22. The analyst noted that while everyone is in Dogecoin panic mode, the meme coin has formed a huge cup-and-handle pattern on the daily chart, which dates back to June 2024.
The analyst added that the cup’s handle currently has a $0.15 price level as its support area. Crypto Daily remarked that the Dogecoin price should bounce off this support level and break out to $0.22.
Crypto analyst Ali Martinez also provided insights into what could be the next move for the Dogecoin price. In an X post, he predicted that if it breaks above the $0.169 resistance level, Dogecoin could rally by 27% to $0.209. The analyst had earlier alluded to DOGE’s historical pattern while stating that the meme coin could enjoy a parabolic bull run this November.
Meanwhile, self-acclaimed Dogecoin analyst on X Kevin Capital said that the Dogecoin price could rally to $0.5 by year-end if Donald Trump wins the US presidential elections.
Featured image created with Dall.E, chart from Tradingview.com
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