Technical indicators have signaled the possibility of an explosive Dogecoin rally to $1 by projecting completion of its fourth Falling Wedge pattern. Crypto analysts have noticed that similar breakouts from similar patterns have historically triggered significant price rallies, with 445% gains seen over past cycles as examples of such catalysts for significant price increase.
Dogecoin’s Falling Wedge Pattern Indicates Potential Major Rally
Tardigrade, an influential voice in cryptocurrency analysis, notes that Dogecoin may soon break out from its fourth Falling Wedge pattern and experience an unexpected surge that could see its value surpass $1. His analysis relies heavily on historical precedent set by prior Falling Wedges that have experienced bullish outcomes.
Falling Wedge chart patterns are recognized as bullish indicators of potential trend reversals. It is distinguished by converging trendlines during price decline, signifying consolidation before an anticipated breakout or continuation of an uptrend. Dogecoin has shown notable bullish momentum following each Falling Wedge breakout, surpassing previous highs by an astounding 88% after its most recent one in November 2023 – reaching $0.11.
March and November of 2024 saw further Bull Run rallies for Dogecoin. These two periods saw 208% and 445% surges to reach peaks of $0.25 and $0.4 respectively, according to historical trends. Based on this evidence, Trader Tardigrade believes Dogecoin could follow this same trajectory, potentially seeing it increase 650% from current prices of $0.2 up to reaching $1.5.
Anticipation Builds for Dogecoin’s 2025 Bull Run
Tardigrade recently addressed the current downward pressure on Dogecoin, which saw its price decline 57% since last December. But this downturn should not be seen as deterrence: drawing analogies to previous bull cycles such as 2017 and 2020 where Dogecoin quickly rebounded after similar dips, the analyst suggests that Dogecoin may be gearing up for another major bull run once reaching key retest levels.
