Cryptocurrency analyst Trader Tardigrade pointed out a previous pattern that had formed Dogecoin price just before recording a 21,000% escalate. Based on this, he raised the possibility that the meme coin could be gearing up for another parabolic rally despite the recent downtrend.
The Dogecoin price oscillator shows a decline to a parabolic rally
In Post XTrader Tardigrade highlighted the weekly Dogecoin price chart while noting that the Price Momentum Oscillator (PMO) has dropped to levels that triggered previous gains. DOGE increased significantly 21,000% from 2015 to 2018 and 800% from 2022 to 2024, when the PMO dropped to its current level.
Therefore, the price of Dogecoin may see a significant escalate again if history repeats itself. The attached analyst chart showed that this time the meme coin could rise just above the psychological level of $1. This will mean modern highest level ever (ATH) for DOGE, with a current ATH of $0.73.
This bullish Dogecoin price prediction comes amid the recent decline in the cryptocurrency market, with DOGE falling to the $0.10 support level. – suggested Trader Tardigrade that the decline could mark a bottom for the leading meme coin, as highlighted by the rising triangle forming on the 4-hour chart.
Cryptocurrency analyst Crypto GVR detected that the chart shows clear signs of a Dogecoin price reversal. The analyst predicts that in the long run, DOGE may rise to between $0.3 and $0.50. Meanwhile, a cryptocurrency analyst Top Gainer has been noted that Dogecoin price is currently in an accumulation zone, which could trigger a piercing escalate in the price of the leading meme coin. He predicts that DOGE could see a substantial breakout that will push its price to $1.
DOGE may target the $0.13 zone
Cryptocurrency analyst Bitcoinsensus indicated that Dogecoin price may be heading towards the $0.13 zone for a breakout. This occurred when the analyst noted that DOGE has confirmed a bullish MACD on a 4-hour time horizon and the meme coin is currently bouncing. He added that if this upward momentum continues in… cryptocurrency marketthen Dogecoin could reach its latest high.
Commenting on Dogecoin’s current price action, cryptocurrency analyst CryptoCeek noticed that a compact dip below $0.10 led to a classic panic color. DOGE may be looking for a rebound, but the analyst warned that a rejection at $0.12 could lead to a deeper decline to $0.08. However, if The meme coin bursts above this level, then it may escalate to $0.16 in the compact term.
At the time of writing, Dogecoin is trading at around $0.1070, up over 5% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
