The Dogecoin value has been on a serious bullish development recently, attaining new highs pushed by political occasions and market sentiment. As the highest meme coin navigates the unstable market, a crypto analyst initiatives that DOGE could possibly be gearing up for a monster rally within the first quarter (Q1) of 2025. The analyst has set a new ATH goal for Dogecoin, anticipating it to surge previous the $1 mark.
Dogecoin Price Rally To New ATH Incoming
On January 22, TradingShot, a crypto analyst on TardingView, declared that Dogecoin is getting ready to succeed in a brand new ATH of $1.6 in Q1 2025. The analyst shared a chart inspecting the meme coin value motion day by day and highlighting key technical indicators and patterns supporting his bullish forecast.
In response to the TradingView knowledgeable, the 1-Day 50 Transferring Common (MA) is a crucial blue development line at present performing as a help stage for Dogecoin. He disclosed that the meme coin had beforehand tried to interrupt above this development line; nonetheless, a current pullback had pushed its value again to this help zone.
The analyst famous that in Dogecoin’s previous value motion, between September and November 2024, it broke above the MA50, efficiently retesting this essential help stage and triggering a main value rally. This vital bullish development lasted about two months, pushing DOGE to the three.0 Fibonacci extension stage after it hit a value backside on August 5, 2024. Primarily based on this sample, the market knowledgeable means that for the same rally to happen in 2025, consumers should reclaim the 1-D MA50 as a help stage.
The TradingView analyst’s chart compares Dogecoin’s present value motion with its historic fractals in 2024. In each years, the meme coin skilled a interval of correction adopted by a backside, as seen within the crimson triangle within the chart.
After bottoming out, DOGE traded inside a Descending Channel, which acted as a precursor to a breakout, in the end sparking a serious bullish rally. On each events, as indicated on the chart, Dogecoin’s 1-Day Relative Power Index (RSI) sequence adopted an analogous downtrend earlier than breaking out and paving the best way for the worth rally.
Including to the bullish narrative, Dogecoin skilled a Golden Cross on the day by day chart earlier on this cycle. Right here, the 50-day MV crossed above the 200-day MA, which is traditionally considered as a bullish sign.
If Dogecoin’s 1D MA 50 and value motion observe the identical path as historic data, it might replicate 2024’s bull rally, pushing it to the projected 3.0 Fibonacci extension goal, corresponding with the $1.6 value stage.
DOGE Bull Flag Suggests Greater Price Target
Whereas different analysts venture a surge to $1 for the Dogecoin value, Dealer Tardigrade forecasted on X (previously Twitter) that the favored meme coin is getting ready for a better rise to $2. The analyst has recognized the emergence of a bull flag sample on the DOGE 2-day value chart.
He reveals that this bull flag sample measures a $2 goal for Dogecoin, marking a possible 471% enhance from its present market value. As of writing, DOGE is buying and selling at $0.35, reflecting a slight 3.1% decline prior to now 24 hours, in line with CoinMarketCap.
Featured picture from Unsplash, chart from Tradingview.com
