In December 2024, due to several Bitcoin crashes, Dogecoin‘s price found itself within a Gaussian Channel after a significant drop. Contrary to the bearish forces that initiated this entry, the fact that Dogecoin entered the Gaussian Channel was actually a positive sign, indicating a quick recovery from any subsequent dips. This is because the Gaussian Channel can serve as a trampoline of sorts, potentially propelling DOGE towards unprecedented new peak prices.
Dogecoin Gaussian Channel Flashes Green
As a crypto investor over the past few weeks, I’ve noticed that the price of Dogecoin has been moving within a Gaussian Channel, displaying signs of bullishness but yet to fully materialize. However, things seem to be shifting now, as for the first time in a while, the Dogecoin Gaussian Channel has turned green, suggesting a potential upward trend.
As per crypto analyst Trader Tardigrade’s analysis, the Dogecoin Gaussian Channel just turned green on the 4-hour chart. This might indicate an imminent breakout of the channel that has been in place for about three weeks. Moreover, this development could initiate a potential price increase that may take Dogecoin above the significant $1 price point.
Predicted goals for the Dogecoin value point towards approximately $0.5, an area facing significant resistance at present, given its previous high. Overcoming this resistance should open the door to a substantial upward trend as suggested by the analyst’s chart, potentially driving the price even higher.
At the peak of the anticipated surge, the price level of $1.4 is expected, representing over a 200% increase from the current value. This projected price aligns with analysts’ earlier forecasts for DOGE, suggesting that the popular meme coin is poised to reach a fresh record high shortly.
Analysts Bullish On DOGE Price
Regardless of the dip experienced by Dogecoin’s value in late 2024, crypto experts continue to express optimism about the meme currency. In fact, crypto expert Dima James predicted in December that Dogecoin might surge to double-digit figures during this market cycle.
James relied on historical trends to support his forecast, demonstrating that Dogecoin (DOGE) has a pattern of significant increases. Primarily, these spikes occur every four years, and since the last significant uptick occurred in 2021, it implies that we might expect another one around 2025. If this pattern holds true, then the DOGE price may reach a new record high in the first quarter of 2025.
According to an analysis by NewsBTC, a cryptocurrency expert estimates that the Dogecoin price might reach $5, which would represent a significant increase of approximately 1,500%. The analyst suggests this bullish trend could occur within the next few months, between March and April.
Currently, when this text is being penned down, a single Dogecoin is being exchanged for approximately $0.383. This represents a drop of nearly 48% compared to its record high price of $0.7376 that was achieved in May 2021.
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2025-01-06 22:35