A notable analyst draws attention to a historic Dogecoin model which could easily take Doge beyond the price bar at $ 1.
For the context, the $ 1 psychological level was the most elusive goal of Dogecoin since the 2020/2021 bull race. Despite the impressive 2021 race, Doge failed to knock on $ 1, facing the resistance at $ 0.74. However, the rally put him in a better position to aim for the milestone during the next bull race.
With this objective in mind, the Chandler market analyst points to a historic model that could allow Mastiff has claim the brand at $ 1. In particular, this model has persisted in the past year, with Doge observing it twice since December 2023, when the in progress bull run has taken shape for the first time.
DOGECOIN RALLYLIES 112% higher than the previous top
According to To chandle, during this period, whenever Dogecoin makes a high level and faces a retreat, his return rally generally leads to a larger larger than the previous one. Chandler observed that the second higher is generally 112% higher than the previous one.
This model occurred for the first time from December 2023 to February 2024. In particular, Doge reached a summit of $ 0.1075 on December 11, 2023, At the rear of the upward trend that started in October 2023. However, after the summit of $ 0.1075, a decline ensued, pushing the prices below the new summit.
Interestingly, the recovery of this decline led to a new top top of $ 0.2,290 in March 2024 in the middle of the same corner at the time. The data suggests that this new peak of $ 0.2290 was approximately 112% higher than the previous peak of $ 0.1075 compared to December 2023.
Nevertheless, while the mania of the same part was cooling, DOGE Faced with another correction, which lasted until the market is recovered in October 2024. This recovery took shape on the back of Donald Trump’s electoral victory, with Dogecoin reaching another $ 0.4846 peak in December 2024. This marked an increase of 112% compared to the previous summit of $ 0.2290.
Now, with Dogecoin fighting against another decline in the new top of $ 0.4846, Chandler thinks that the next recovery push could lead to another peak which is 112% higher than the previous one. In this case, an increase of 112% compared to the summit of $ 0.48 would bring to $ 1.02.
In addition to Chandler, several other market analysts expect Dogecoin to claim $ 1 in this cycle, with WSB Trader Rocko suggesting It could happen soon. Earlier this month, late late further note That a Dogecoin target of $ 1 is reasonable, quoting its PO3 structure.
Meanwhile, others expect the $ 1 bar to only serve Dogecoin springboard for larger heights. For example, Javier Santini sees Dogecoin claim $ 4 When he recovers the current correction.
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