The post DOGE Surge Mirrors Bitcoin’s Milestone, Analysts Predict $1 Target appeared on BitcoinEthereumNews.com.

Multiple analysts have uncovered a bullish formation that could fuel DOGE’s move to $1; meanwhile, another analyst tips the asset to reach between $3.95 and $23.26 in this cycle.  An analyst who spotted the formation of a bullish pattern hints that the asset consolidated for 24 days during the previous cycle before “taking off.” Dogecoin (DOGE) is currently down by 5.9% on the 24-hour price chart, declining from the daily high of $0.45 to peg at $0.42 at press time. Meanwhile, renowned analyst Rekt Capital has hinted that the asset could be in line to hit $1 in the near term. Analyzing his thesis, we observed that Dogecoin is imitating the Bitcoin (BTC) price behavior. According to Rekt Capital, the meme-themed coin is retesting the top of an Ascеnding Triаnglе pаttеrn and turning it into support. Source: Rekt Capital Meanwhile, another analyst identified as Trаdеr Tаrdigrаdе has pointed out that DOGE has broken out of a Symmеtricаl Triаnglе pаttеrn. Per his analysis, the asset could soon secure the $0.55 mark. Assessing a chart posted by TradingView, it was observed that DOGE is about to embark on another bull run. The 12-hour chart showed a consolidation of a bullish pennant pattern. According to the analysis, DOGE could target $1 in the next breakout. Earlier, an independent analyst, Mikybull, also disclosed the formation of a falling wedge pattern, forming a bullish confluence with an on-balance volume indicator. For analyst Ali Martinez, DOGE could finish the cycle between $3.95 to $23.26. Dogecoin (DOGE) is about to go parabolic! Based on historical patterns, a potential top might lie between the 1.618 and 2.272 levels, translating to a price range of $3.95 to $23.26. Another Analyst Joins the DOGE Discussion as On-Chain Activities Shows Bullish Outlook Amid these bullish trends, whales have progressively increased their…

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Filed under: News - @ December 6, 2024 6:20 pm