Dogecoin’s price has been struggling, but some analysts see a potential surge on the horizon. Recent price increases and technical indicators are fueling optimism that the long-awaited $1 price could be within reach.
Bull Flag Pattern Points Upward
Crypto trader Kamran Asghar spotted a “bull flag” pattern on Dogecoin’s weekly chart. This pattern often signals a price increase. Asghar believes this could push Dogecoin to $0.22 initially, and potentially much higher. He’s predicting a move towards $0.44, and even a possible jump to over $1 based on Fibonacci extensions. This suggests that hitting $1 isn’t just wishful thinking, but a real possibility based on the chart’s technical analysis. The price has been consolidating within an upward channel since 2024, and the recent dip seems to have found strong support.
MACD Crossover Adds to the Bullish Sentiment
Trader Tardigrade, another Dogecoin analyst, points to a bullish MACD crossover on the 3-day chart. This crossover, he says, confirms a bullish reversal. He notes that similar crossovers in the past led to significant price rallies, lasting for weeks. This latest crossover, coupled with recent price action, leads him to predict a massive move, potentially exceeding $1.30.
The Road to $1
While these indicators are bullish, there are hurdles to overcome. A decisive close above $0.20 is the first major step. Sustained bullish momentum across the broader crypto market would also be crucial to propel Dogecoin towards the $1 target. Currently, DOGE is trading around $0.1862.
