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Dogecoin

Dogecoin Price Forms New Bullish Pennant After Surge To $0.4 – Here’s The New Target

Scott Matherson
by Scott Matherson
11 months ago
·
Posted in Dogecoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Crypto analyst Trader Tardigrade has revealed that the Dogecoin price has formed a new bullish pennant after the surge to $0.4. The analyst further revealed how high Dogecoin could rise following the formation of this bullish pattern. 

Related Reading: Trump Crypto Venture Joins Forces With Chainlink To Harness Off-Chain Data

Dogecoin Price To Reach $0.9 As Bullish Pennant Forms

In an X post, Trader Tardigrade mentioned that the next stop for the Dogecoin price is $0.9 as another bull pennant forms. The analyst revealed that the previous pennant took Dogecoin from $0.2 to $0.3, while this current one aims to send the foremost meme coin to $0.9. This bullish pennant indicates that DOGE will resume its upward trend once it’s done consolidating. 

Trader Tardigrade had also recently revealed that the Dogecoin price had broken out of a bull pennant on the monthly chart. The analyst predicted that the breakout could cause DOGE to rally to $15 sometime in 2025, which could mark the Dogecoin peak in this bull run. He also recently raised the possibility of a DOGE price rally to as high as $30 if it mirrors the 2021 bull run. 

However, in the short term, crypto analyst Kevin Capital has warned that the Dogecoin price could still consolidate and correct for around two more weeks. He mentioned that the target for Dogecoin would be between $0.26 and $0.30, which is the golden pocket retrace level. He added that would represent a 30% to 40% correction from the local top, which is a perfect size correction in a bull market. 

DOGE market cap currently at $55.6 billion. Chart: TradingView

Meanwhile, in the long term, Kevin is also bullish like other analysts like Trader Tardigrade. The analyst predicted that the Dogecoin price could reach between $1 and $2 by year-end. Crypto analyst Dj Anas also predicted that Dogecoin could reach $1 by year-end based on the Fibonacci levels. 

DOGE To $10 Looking More Likely

Crypto analyst Javon Marks has said that a Dogecoin price rally to $10 in this market cycle is looking more likely. He remarked that the technical analysis, historical trends, and current support such a bullish outlook for Dogecoin. A rally to $10 represents another gain of over 2,400% for Dogecoin, and the analyst believes this rally may already be in play. 

As for current events supporting such a parabolic rally, Javon Marks noted that a governmental organization is now named after the foremost meme coin. This is in reference to the Department of Government Efficiency (D.OG.E), which the US President-elect Donald Trump has appointed Elon Musk, a Dogecoin supporter, to co-lead. 

Related Reading: Dogecoin Price Flashes Bull Flag On The Hourly Chart, Can It Rally To $1?

At the time of writing, the Dogecoin price is trading at around $0.38, up over 3% in the last 24 hours, according to data from CoinMarketCap. 

Featured image from CNBC, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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