The post DOGE Price Strengthens Amid Bullish Distribution Phase Momentum appeared on BitcoinEthereumNews.com.

DOGE price has entered the bullish Distribution phase of the Power of Three (PO3) pattern, a structure that tracks market accumulation, manipulation, and distribution phases. According to market analyst Trader Tardigrade, this phase could propel Dogecoin toward the $1 mark in 2025. The PO3 pattern started at the accumulation phase of Dogecoin, which began in November 2024. The phase occurred at a time of market recovery following the U.S. presidential election. But a price pullback in mid-December caused a short term Manipulation phase, which was marked by decline and consolidation. The January 2025 bull run is the beginning of the Distribution phase of Dogecoin. Source: X Early 2025 Gains Boost DOGE Price Momentum Dogecoin had a massive 252% annual growth rate by the end of 2024. However, it then struggled in December, declining by 25%. However, DOGE posted a bearish close but a strong rebound in early 2025. In the first four days of the month, the token jumped by 23.15% after a drop in the last days of 2024. – Advertisement – Currently, Dogecoin is trading at $0.3852, a 15% rise in the last 24 hours. This recovery is in line with the improvement of the bullish outlook for the crypto market and supports expectations of further growth. Furthermore, Dogecoin is making a ‘Jump The Creek’ pattern indicating the shift from the Wyckoff’s Accumulation phase to the Mark Up phase. This is a gradual increase characterized by a break and retest at the key resistance levels. This indicates further uptrend and traders’ confidence. As DOGE enters 2025, an accelerated price rise suggests the beginning of the ‘Blow-Off Top’ which is followed by the Distribution stage where early investors cash out. Analysts Forecast $1 Target for Dogecoin Several analysts have a bullish view of where Dogecoin is headed during the…

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Filed under: News - @ January 5, 2025 8:10 pm