Dogecoin enthusiasts have something to wag their tails about as a historical pattern suggests a rally beyond the $1 threshold could be in the cards. According to market analyst Chandler, Dogecoin has shown a recurring trend of soaring to significantly higher highs after each pullback. This pattern has held true twice since the bull run began in December 2023. “Whenever Dogecoin makes a higher high and faces a pullback, its comeback rally typically leads to a more substantial higher high than the previous one,” Chandler noted.
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A Rally Backed by Patterns and Predictions
Chandler’s analysis isn’t just a shot in the dark; it’s backed by consistent gains over the past year. For instance, after a pullback in December 2023, Dogecoin bounced back to a new high of $0.2290 in March 2024. This marks a 112% increase from its previous peak. This pattern repeated with Dogecoin’s surge to $0.4846 in December 2024 after another recovery. If the pattern holds, Dogecoin could soon hit $1.02, surpassing the elusive $1 mark.
Analysts Rally Behind Dogecoin’s Potential
The sentiment is bullish among other market analysts as well. WSB Trader Rocko and Trader Tardigrade both see Dogecoin hitting $1 soon, with Tardigrade citing his PO3 structure as evidence. Meanwhile, Javier Santini predicts that $1 might just be a stepping stone to an even higher peak of $4.
At the time of writing, Dogecoin is sitting at $0.2665.
