Analyst Predicts Dogecoin Could Surge to $1 Amid Breakout

A crypto analyst predicts a potential price surge for Dogecoin, projecting it could reach $1.

Breakout Potential

Analyst Henry indicates that Dogecoin may be primed for a "huge breakout" based on recent chart patterns.
Despite negative sentiment in the broader cryptocurrency market, some investors remain optimistic about DOGE's strength this week.
Henry noted a similar situation occurred on September 24, leading to significant price movements.

Henry stated in a post that Dogecoin has broken out of a triangle flag pattern on the daily candle chart, which it has been locked in since December 2024. This pattern suggests a possible rise towards $0.50 and potentially reaching an all-time high of $1 if it maintains its position above the pattern's top.

Current Status

Dogecoin is currently trading at $0.173, down by 4.6% in the last 24 hours.
Historically, DOGE experienced a similar breakout in September 2024 with over a 400% surge, exceeding $0.48.
To hit $1, DOGE would require a 450% increase from current levels.

Another analyst, Trader Tardigrade, shares the view that DOGE may see a price surge, supporting this with moving average convergence divergence analysis.