Bull Flag Formation Projects Dogecoin Price Target of $2.15
Crypto analyst Trader Tardigrade identified a bullish pattern on the Dogecoin price chart, predicting a potential price rise to $2.15 during this market cycle.
Bull Flag Indicates Price Target of $2.15
In an X post, Trader Tardigrade noted a bull flag formation on DOGE’s daily chart, indicating tight consolidation. A long flagpole suggests a target of $2.15 for Dogecoin, with a possible rally projected before year-end.
Additionally, Trader Tardigrade mentioned a double-bottom chart pattern, where DOGE formed two equal lows with resistance at approximately $0.46.
The analyst also highlighted a recent bullish crossover on the moving average convergence/divergence (MACD), suggesting that Dogecoin could surpass the $0.46 resistance and approach $0.5 in the next leg of its bull run.
This potential rally to $0.5 could initiate the move towards the projected $2.15 target based on the bull flag pattern. Previously, Trader Tardigrade forecasted that DOGE could reach $30 in this cycle, recommending profit-taking around $10.
Future Price Movements
Crypto analyst KrissPax provided insights into future movements for Dogecoin. He indicated that following the double-bottom pattern, historical price action suggests an upward trajectory through Monday, continuing until Christmas, though with expected dips along the way.
Like Trader Tardigrade, KrissPax confirmed the existence of the bull flag on DOGE’s daily chart, predicting that the price might reach $0.69 by year-end, nearing its all-time high of $0.73.
Recent activity indicates that crypto whales are preparing for a Dogecoin price increase. Analyst Ali Martinez reported that these investors purchased 160 million DOGE within 24 hours.
Currently, Dogecoin is trading at approximately $0.4, reflecting over a 1% increase in the last 24 hours, according to data from CoinMarketCap.
