Dogecoin has been acting strangely lately, and one analyst thinks it’s following a specific pattern that could lead to a big price jump.
The “Power of Three” Pattern
This analyst, Trader Tardigrade, says Dogecoin is following a pattern called the “Power of Three” (PO3). This pattern has three phases:
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Accumulation: A period of sideways trading where buyers are quietly accumulating the coin. For Dogecoin, this was roughly from early November to mid-December 2024.
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Manipulation: This is where things get volatile. The price swings wildly, potentially creating fear and uncertainty among investors. Dogecoin seems to be in this phase now, with a recent dip.
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Distribution: This is the exciting part! After the manipulation, the price explodes upwards as those who accumulated the coin during the first phase start selling.
Dogecoin’s Predicted Price Surge
Trader Tardigrade believes Dogecoin is nearing the end of its manipulation phase and is about to enter the distribution phase. He predicts this could send Dogecoin’s price soaring to as high as $0.95. That’s a massive increase from its current price (around $0.33)!
He thinks this surge will happen in the first couple of weeks of 2025. While this prediction doesn’t quite reach the $1 mark many are hoping for, it still suggests a very strong bullish outlook for Dogecoin. It’s important to remember that this is just one analyst’s opinion, and crypto markets are notoriously unpredictable.
