The price of Dogecoin has recently symmetrical triangle patternsuggesting possible bullish momentum. Interestingly, this breakout occurred just 3 days ago President Donald Trump Inauguration Ceremony. This timeline led one cryptocurrency analyst to issue a bullish price prediction, predicting that Dogecoin could soon reach an all-time high.
Dogecoin price breaks out of bullish chart pattern
In an X (formerly Twitter) post On Friday, renowned cryptocurrency analyst Master Kenobi said: Dogecoin technical analysis Predict the future price of meme coins using historical data and technical patterns. Analyst charts show a symmetrical triangle, a bullish pattern that often appears when two converging trend lines intersect.
According to Master Kenobi, Dogecoin has recently broken out of this symmetrical triangle. strong bullish movement In the direction of breakout. The red threshold highlighted on the analyst Dogecoin price chart indicates that the memecoin’s next important resistance level is $0.56.
Achieving a price above this resistance area of $0.44 would suggest that Dogecoin is likely to reach an all-time high of $0.74 as its ultimate goal. Additionally, Master Kenobi revealed that Dogecoin’s recent breakout from the symmetric triangle occurred three days before President Trump’s inauguration on January 20, 2025.
Based on this timeline, Master Kenobi thinks: Dogecoin could reach new ATH The stock soared from the market price of $0.39 to $0.74 in three days. This significant price increase represents a massive 89.7% increase from the current price. The analyst said that looking at the chart, Dogecoin’s expected rise is modest and could move above $0.44 to reach new resistance at $0.56 before rising to the ATH price level of $0.74. pointed out.
While Master Kenobi remains confident in his bullish Dogecoin price prediction, he also acknowledges that there is inherent uncertainty in that prediction. price predictionadvises investors to keep their strategies flexible and opinionated.
in spite of Dogecoin’s recent bullish performance Ahead of President Trump’s inauguration, analysts’ technical analysis remains speculative, highlighting the volatility of the cryptocurrency market. Nevertheless, The price of Dogecoin is rising rapidly, It rose 18.8% earlier this week and retested the psychological level of $0.4.
Analysts say Dogecoin bull market is coming
According to Trader Tardigrade, a well-known cryptocurrency analyst, dogecoin trend pattern The trends in 2017 are a good reflection of current trends. The analyst is shared A chart providing a comparative analysis of Dogecoin price trends in 2017 and expected movements in 2025.
On both Dogecoin charts, Longer price stability period After achieving a significant local peak. In both 2017 and 2025, Dogecoin was under long-term downward pressure and built support near the blue horizontal line on the chart.
Additionally, the chart shows a downward red trend line that forms during Dogecoin’s consolidation phase. Based on Trader Tardigrade’s analysis, if Dogecoin can break above this trend line, it could signal the beginning of a market. large scale cattle drivewhich could push the meme coin price above $3 and mark a new ATH.
Featured image from Business Insider, chart from TradingView
