A well-regarded cryptocurrency expert has voiced his confidence that the widely recognized meme currency, Dogecoin, could potentially hit the long-anticipated milestone of being worth one dollar per coin.
According to market analyst Trader Tardigrade, there’s a possibility that Dogecoin’s price could reach $1 within the next four days following the New Year. This optimistic outlook suggests that the meme cryptocurrency may be entering a favorable, upward trend, or bullish phase.
$1 Per Coin Feasible
It’s plausible that Dogecoin will hit the eagerly awaited $1 mark, given that it has entered what’s known as the Distribution phase, according to the perspective of a Tardigrade (a term often used in crypto communities).
According to the market analyst, for Dogecoin (DOGE) to hit the significant price point of $1, it would require a substantial increase of approximately 157%. This increase could occur soon, as DOGE might be adhering to the “Power of Three” pattern, which suggests that it may reach this level in the near future.
“$Doge $1 is a reasonable target in this pattern,” Trader Tardigrade said in a post.
In the previous year, Dogecoin experienced a substantial increase of approximately 252% in its value. However, towards the final months, particularly in December, it faced downward trends, resulting in a drop of about 25% in its price.
The Dogecoin daily chart has concluded, marking the beginning of the Distribution phase within the “Power of Three” (PO3) pattern. A potential price point of $1 for Doge could be achievable according to this pattern.
— Trader Tardigrade (@TATrader_Alan) January 4, 2025
Power Of Three Pattern
The study on Tardigrades showed that the stage of Dogecoin has transitioned to the Distribution phase, which is part of the Power of Three model’s three stages.
Crypto expert explains that the Power of Three pattern refers to a three-part framework which DOGE consistently adheres to during its market trends. These three stages are gathering (or accumulation), controlling (or manipulation), and dispersing (or distribution).
Based on Tardigrade’s findings, the Accumulation Phase started following a substantial rise in DOGE’s price in November 2024. This phase can be connected to the optimistic sentiment in the cryptocurrency market after Donald Trump’s win in the U.S. presidential election.
During this period, the cryptocurrency specialist noted that the meme coin experienced a series of gradual price increases, generating enthusiasm among investors.
On December 17, the Accumulation period concluded, heralding the start of the Manipulation phase. During this stage, investors observed a drop in Dogecoin’s (DOGE) price.
As a dedicated Dogecoin investor, I’ve observed that the closing stretch of last year (December) was a challenging time for DOGE, with its value dropping significantly and showing signs of consolidation. Remarkably, this bearish trend persisted well into the year 2024.
In these challenging times, Dogecoin experienced a drop of approximately 25% in its worth. Yet, market analysts contend that this Manipulation stage is crucial for the meme coin, as it readies DOGE for the subsequent phase, which they refer to as the Distribution phase.
In the opening days of 2025, I observed the commencement of the Distribution phase for the meme coin. Notably, this digital currency demonstrated signs of recuperation, experiencing a significant surge of approximately 23.15% within a span of four consecutive days.
$1 Dogecoin Can Be Achieved
As an analyst, I’m confident that Dogecoin (DOGE) could potentially reach the anticipated value of $1 per coin due to the advantageous circumstances currently at play within this market phase.
If an analyst’s prediction holds true, a 157% price surge would propel Dogecoin from its current value of $0.38961 up to $1. This optimistic outlook for the digital currency, often referred to as a meme coin, is grounded in its historical price fluctuations.
Back in November 2024, a cryptocurrency expert foresaw that Dogecoin might accomplish a 160% price jump. Remarkably, it managed to do exactly that! Given this successful surge, it’s not unrealistic to expect a 157% increase instead.
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2025-01-05 17:10