The Dogecoin price has been on a significant bullish trend currently, achieving recent highs driven by political events and market sentiment. As the highest meme coin navigates the volatile market, a crypto analyst projects that DOGE might be gearing up for a monster rally in the primary quarter (Q1) of 2025. The analyst has set a recent ATH goal for Dogecoin, expecting it to surge past the $1 mark.
Dogecoin Price Rally To Recent ATH Incoming
On January 22, TradingShot, a crypto analyst on TardingView, declared that Dogecoin is preparing to achieve a recent ATH of $1.6 in Q1 2025. The analyst shared a chart examining the meme coin price motion day by day and highlighting key technical indicators and patterns supporting his bullish forecast.
In accordance with the TradingView expert, the 1-Day 50 Moving Average (MA) is a very important blue trend line currently acting as a support level for Dogecoin. He disclosed that the meme coin had previously attempted to interrupt above this trend line; nevertheless, a recent pullback had pushed its price back to this support zone.
The analyst noted that in Dogecoin’s past price motion, between September and November 2024, it broke above the MA50, successfully retesting this critical support level and triggering a major price rally. This significant bullish trend lasted about two months, pushing DOGE to the three.0 Fibonacci extension level after it hit a price bottom on August 5, 2024. Based on this pattern, the market expert suggests that for an analogous rally to occur in 2025, buyers must reclaim the 1-D MA50 as a support level.
The TradingView analyst’s chart compares Dogecoin’s current price motion with its historical fractals in 2024. In each years, the meme coin experienced a period of correction followed by a bottom, as seen within the red triangle within the chart.
After bottoming out, DOGE traded inside a Descending Channel, which acted as a precursor to a breakout, ultimately sparking a significant bullish rally. On each occasions, as indicated on the chart, Dogecoin’s 1-Day Relative Strength Index (RSI) sequence followed an analogous downtrend before breaking out and paving the way in which for the worth rally.
Adding to the bullish narrative, Dogecoin experienced a Golden Cross on the day by day chart earlier on this cycle. Here, the 50-day MV crossed above the 200-day MA, which is historically viewed as a bullish signal.
If Dogecoin’s 1D MA 50 and price motion follow the identical path as historical records, it could replicate 2024’s bull rally, pushing it to the projected 3.0 Fibonacci extension goal, corresponding with the $1.6 price level.
DOGE Bull Flag Suggests Higher Price Goal
While other analysts project a surge to $1 for the Dogecoin price, Trader Tardigrade forecasted on X (formerly Twitter) that the favored meme coin is preparing for a better rise to $2. The analyst has identified the emergence of a bull flag pattern on the DOGE 2-day price chart.
He reveals that this bull flag pattern measures a $2 goal for Dogecoin, marking a possible 471% increase from its current market price. As of writing, DOGE is trading at $0.35, reflecting a slight 3.1% decline prior to now 24 hours, in accordance with CoinMarketCap.
Featured image from Unsplash, chart from Tradingview.com