According to a crypto analyst, the Dogecoin price has just entered a critical Order Block zone, an area that could serve as a launchpad for a major price rally. The analyst suggests that once these order blocks are filled, Dogecoin could break out and push toward a new All-Time High (ATH).
Dogecoin Price Aims For $0.8 ATH Target
Trader Tardigrade, a renowned crypto analyst on X (formerly Twitter), has highlighted a distinct change in the Dogecoin price action. He predicts that the meme coin could rally to a $0.8 ATH target. He highlights that DOGE has moved into an Order Block zone, where large concentrations of limit orders are waiting to be filled.
An Order Block is a price level where institutional traders accumulate large buy or sell orders. These zones can act as strong support or resistance areas, influencing a cryptocurrency’s price action by either serving as a barrier for further price breakdown or a threshold for a market rally.
According to Trader Tardigrade’s analysis and price chart, Dogecoin entered the critical Order Block zone at $0.22, where limited orders are being digested. Historical data shows that the meme coin has previously surged after retesting similar Order Blocks. The analyst’s chart highlights two past instances where the DOGE price dropped to a support zone before experiencing explosive rallies.
Specifically, in December 2024, when the demand for meme coins were high, Dogecoin entered an Order Block zone around the $0.1 level. After a period of slight price increases and consolidation, the meme coin experienced a massive price rally that pushed its price to new highs around $0.44.
Considering Dogecoin has entered a similar Order Block zone, Trader Tardigrade suggests that if this pattern holds, the meme coin could soon see a significant breakout to $0.8, marking a new ATH.
DOGE Downtrend Could End With New Double Bottom
Despite the recent volatility that has plagued the market and ongoing price instability, analysts remain optimistic about the future Dogecoin price outlook, especially with the recent formation of a Double bottom pattern. Typically known to be a bullish indicator, the Double bottom indicates the potential end of a downtrend and reversal to an uptrend.
According to a new X post by Trader Tardigrade, Dogecoin’s newly formed Double Bottom could trigger a surge back to its previous high around the $0.22 level. This price increase will signal a massive lift from previous bearish trends, which have led to doublt-digit price crashes for Dogecoin.
Currently, DOGE is trading at $0.18, experiencing a crash of over 43% and eliminating half of its value. A successful execution of the Double Bottom pattern will help the meme coin initiate a recovery, potentially resuming its previous uptrend. Moreover, Dogecoin’s Relative Strength Index (RSI) indicates an imminent breakout from the horizontal blue line on the chart, indicating increasing momentum.
