Dogecoin Price Poised for 10X Rally, Say Analysts

Sean Williams
Dogecoin (DOGE)

Dogecoin (DOGE) is once again in the spotlight as technical analysts highlight bullish chart formations that could drive a significant price surge. Analysts suggest that DOGE is currently displaying multiple bullish indicators, hinting at a potential 10X rally in the near future.

MACD Breakout Signals Strong Momentum

Trader Tardigrade recently shared an analysis on X, revealing that Dogecoin’s Moving Average Convergence Divergence (MACD) indicator has broken out from a triangle pattern. Historically, this setup has triggered strong upward momentum for DOGE. Similar MACD breakouts in September and March led to substantial price gains, suggesting that another major rally could be underway.

Additionally, the MACD lines have recently crossed bullishly, reinforcing the breakout narrative. The upward curl in the price structure suggests that DOGE may be on the verge of a powerful move, with analysts closely watching for further confirmation.

Cup and Handle Formation Points to $2 Target

Crypto Elites, another prominent analyst, has identified a cup and handle pattern forming on the DOGE chart. This classic bullish continuation pattern typically precedes strong rallies. The rounded bottom of the cup has already developed, and the handle phase is progressing.

Key resistance stands at $0.185, and a breakout above this level could trigger a sharp rise. Based on the depth of the cup, the projected target price falls within the $1.85 to $2.00 range. If DOGE successfully breaks past this resistance, traders could see an explosive move toward these higher levels.

Resemblance to 2017 Bull Market

Market analyst KrissPax has drawn comparisons between DOGE’s current price action and its 2017 bull cycle. His analysis suggests that Dogecoin is mirroring a previous breakout phase, which eventually led to a massive surge. If this pattern repeats, DOGE could reach as high as $4.

Furthermore, a recent CoinGape report indicates that a confirmed breakout above $0.18 could set the stage for a broader meme coin rally, potentially propelling Dogecoin toward an ambitious $20 target.

Also Read: Dogecoin (DOGE) Price Stalls: Will a Breakout or Drop Come Next?

As momentum builds, investors are closely monitoring these bullish signals, anticipating whether DOGE will live up to its 10X rally potential.

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.

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