Dogecoin (DOGE), the leading meme coin, could be on the verge of a massive breakout, according to prominent crypto analyst Trader Tardigrade. In a tweet today, he shared a chart projecting a staggering 1,040% rally, setting a bold target of $3.80 in this market cycle.
#Dogecoin is gearing up for a MASSIVE RALLY 🔥$DOGE — don't miss it! 🚀#Altseason pic.twitter.com/zhBljSr4f6
— Trader Tardigrade (@TATrader_Alan) January 31, 2025
Dogecoin Poised for a Major Upswing
Trader Tardigrade’s analysis suggests that Dogecoin will mirror its historical cycle, where it has consistently surpassed previous highs after breaking key resistance levels. The ninth-largest cryptocurrency by market cap is expected to repeat this trend, positioning itself for a meteoric rise.
This bullish forecast follows Tardigrade’s January 30 analysis of Dogecoin’s dominance over Bitcoin. His observations highlighted that the DOGE/BTC pair is forming a falling wedge pattern on the weekly chart while sitting at a critical support level. If Dogecoin breaks out, it could trigger a broader altcoin market rally, a trend often seen in February when altcoins like Ethereum experience significant gains.
$Doge / $BTC suggests a BIG candle might appear next month 🔥#Dogecoin pic.twitter.com/mNlrLH0VW0
— Trader Tardigrade (@TATrader_Alan) January 29, 2025
Market Analysts Strengthen Bullish Sentiment
Seasoned market trader Coinvo has further reinforced the bullish case for Dogecoin. He asserts that DOGE is on track to reach a new all-time high soon, echoing its remarkable 12,000% surge in the 2021 bull run. His analysis suggests that Dogecoin must hold the $0.33 support level to maintain its upward trajectory. If sustained, the next target would be $0.4155 before aiming for new record highs.
Dogecoin’s Social Buzz Fuels Optimism
Beyond technical indicators, social sentiment around Dogecoin is surging. According to LunarCrush Analytics, Dogecoin’s social dominance recently hit a multi-month high of 4.45%, outpacing most crypto assets. This growing community engagement could amplify market sentiment, potentially driving more bullish momentum for DOGE.
At press time, Dogecoin is trading at $0.335, marking its third consecutive day in the green. As enthusiasm builds, all eyes are on whether the meme coin can defy expectations and reach the coveted $3.80 mark in this cycle.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.