Dogecoin appears to be starting 2025 on solid footing, with analysts seeing multiple signs of impending explosive moves.
In a recent tweetMarket watcher Crypto Surf has highlighted a promising development on Dogecoin’s six-month chart. The chart, which the analyst shared with the comment âWelcome Yellow,â draws attention to the historical significance of the different color patterns on the DOGE chart.
Notably, Dogecoin’s six-month candlestick chart reveals key information about its color patterns: yellow, orange, pale green, and red.
Yellow candle: a historic change for Dogecoin?
In Dogecoin’s history, yellow candlesticks have marked periods of explosive growth. This was observable during the 2020-2021 bull market, when DOGE prices reached all-time highs.
Since then, Dogecoin has seen significant retracements over the past four years. It featured candlesticks ranging from blue to red before a morning star pattern appeared, signified by the appearance of an orange candlestick. Similar trends also emerged during the 2017-2018 cycle.
Notably, the orange candlestick repeatedly indicates Dogecoin’s recovery from bear market lows, igniting initial price sparks that attract public attention. A similar event occurred in 2024, when Dogecoin saw a 540% gain, peaking at $0.4835 for the year.
Now, according to the chart, Dogecoin seems ready for the next phase, marked by the arrival of the yellow candlestick. Historically, the yellow candle signals extreme bullish sentiment. This would reflect a broader bull market, increased retail interest and favorable macroeconomic conditions for risky assets.
Essentially, given historical trends, analysts estimate that 2025 could be the year Dogecoin finally breaks the coveted $1 mark. Analysts are rather unanimous on this bullish outlook.
Dogecoin Predictions for 2025
An analyst, Ăima James Potts, boldly predicted that Dogecoin could see a price increase of at least 37 times in 2025, based on historical trends. He highlighted Dogecoinâs performance over the previous four years of market cycles.
For example, in 2017 and 2021, Dogecoin surged at least 3,700% from opening prices. Potts expects a similar rise in 2025, especially if DOGE closes 2024 around $0.315, which it indeed did.
Based on this, he suggests that DOGE could close 2025 with a price of at least $11.
Other analysts, like Tardigrade, are even more optimistic, predicting that Dogecoin could reach up to $30 by May 2025. They cite various technical observations on the historical trend of the meme coin.
At press time, Dogecoin saw a 7% gain over the past 24 hours, reclaiming the price from $0.33.
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