Dogecoin Analysts Predict Potential Rally with Price Doubling to $0.30

Crypto analyst Bitguru suggests that Dogecoin may be poised for a significant recovery based on historical patterns. The current setup mirrors past rallies, which have resulted in substantial price increases.

Key Observations:

  • The pattern involves three stages: a sharp price drop into demand, followed by consolidation, and then a rally after finding support.
  • This trend was first noted in the second quarter of this year, leading to a nearly 100% price increase from under $0.15 to above $0.28.
  • A similar pattern occurred in the third quarter, with the price again almost doubling.

Dogecoin price

Currently, Dogecoin is approaching the support level of $0.15, indicating potential for another rally.

Potential for Price Increase:

  • If the pattern holds, Dogecoin's price could double, potentially reaching $0.3 once the trend completes.

Dogecoin price chart from Tradingview.com