Crypto analyst Trader Tardigrade has highlighted a bullish pattern in which the Dogecoin price formed in previous bull cycles. Based on this, the analyst has raised the possibility that the top meme coin could rise to $10.
Dogecoin price repeats falling wedge pattern
Trader Tardigrade revealed in an X-post that the Dogecoin price had rebounded falling wedge pattern on the monthly chart. He added that a parabolic move will follow the falling wedge breakout. His accompanying chart showed that Dogecoin could rise to $10 if this parabolic move occurs.
Dogecoin price also experienced parabolic moves during the 2021 and 2017 bull runs, when a breakout formed after the descending wedge pattern on the monthly chart. In 2021, the price breakout led to Dogecoin reaching its current price all-time high (ATH) of $0.73 in that market cycle.
Crypto analyst Dima James has also raised the possibility of the Dogecoin price rising to $10. He stated that he expects the DOGE recovery to expand until 2025. Interestingly, he suggested that Dogecoin could even rise above $10 and rise as high as $36. However, he noted that the adoption of Dogecoin would play a crucial role in taking the meme coin to new heights.
Meanwhile, crypto analyst Master Kenobi, who predicted it at the start of the Dogecoin bull run, has said the price could make a huge upward move ahead of the November 5 US elections, catching many off guard. However, if that doesn’t happen, he expects the meme coin to consolidate for about 30 days before another price breakout.
The next breakout could send DOGE to $0.22
Crypto analyst Crypto Daily has predicted that the following will happen Dogecoin price breakout sends 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, dating back to June 2024.
The analyst added that the cup handle currently has a $0.15 price level as its support area. Crypto Daily noted that Dogecoin price should bounce off this support level and break out to $0.22.
Crypto analyst Ali Martinez also provided insight into what could be next for the Dogecoin price. In an X-post, he predicted that Dogecoin could rise 27% to $0.209 if it breaks above the $0.169 resistance level. The analyst had previously alluded to DOGE’s historical pattern while stating that the meme coin could experience a parabolic bull run in November.
Meanwhile, X’s self-proclaimed Dogecoin analyst Kevin Capital said the Dogecoin price could rise to $0.5 by the end of the year if Donald Trump wins the prize. US presidential election.
Featured image created with Dall.E, chart from Tradingview.com