Dogecoin Gaussian Channel Turns Green, Signaling Potential Price Surge
In December 2024, Dogecoin entered the Gaussian Channel following a price decline linked to Bitcoin's multiple crashes. Despite being triggered by bearish forces, this entry indicated a potential recovery as the Gaussian Channel can serve as a bounce-off point, possibly propelling DOGE toward new all-time highs.
Dogecoin Gaussian Channel Flashes Green
Recently, Dogecoin's price has been trending within the Gaussian Channel, exhibiting signs of bullishness. The channel has turned green for the first time, indicating a possible breakout after three weeks of stability.
Crypto analyst Trader Tardigrade noted that the green signal on the 4-hour chart suggests an impending upward movement that could push the price above $1. Initial targets are set at $0.5, where resistance exists due to recent peaks. A breakthrough here could lead to substantial gains.
The top target for the breakout is $1.4, representing over a 200% increase from current prices. This aligns with prior predictions suggesting that Dogecoin aims to reach a new all-time high soon.
Analysts Bullish On DOGE Price
Following the December 2024 crash, analysts remain optimistic about Dogecoin's future. Analyst Dima James suggested that Dogecoin could reach double digits in this market cycle, citing historical data that shows significant surges occur on a four-year cycle. With the last major surge in 2021, 2025 may be poised for another peak.
Another analysis predicted that Dogecoin could rise to $5, forecasting a 1,500% increase between March and April 2025.
As of now, Dogecoin is trading at $0.383, which is 48% below its all-time high of $0.7376 reached in May 2021.
