Dogecoin Price Prepares For Monster Rally In Q1, Here’s The ATH Target

Dogecoin price was at a key level Uptrend Recently, it has made new highs driven by political events and market sentiment. As the top meme currency navigates the volatile market, a cryptocurrency analyst Projects DOGE may be poised for a massive rally in the first quarter (Q1) of 2025. The analyst has put it New ATH target for Dogecoinexpected to cross the $1 mark.

Dogecoin prices rise on arrival of new ATH

On January 22, TradingShot, a cryptocurrency analyst on TardingView, announced that Dogecoin is Prepare to access a new ATH worth $1.6 in the first quarter of 2025. The analyst shared a chart examining the memecoin’s daily price action and highlighting key technical indicators and patterns that support his forecast. Bullish outlook.

According to a TradingView expert, the 50-day moving average (MA) is an important blue trend line that is currently acting as a trend line. Support level for Dogecoin. He revealed that the meme had previously attempted to break through this trend line; However, the recent pullback has pushed its price into this support zone.

The analyst pointed out that during… Previous price action of Dogecoinbetween September and November 2024, broke above the MA50, successfully retesting this critical support level and triggering a wave Huge price rise. This major uptrend lasted for about two months, pushing DOGE to the 3.0 Fibonacci extension level after hitting the price bottom on August 5, 2024. Based on this pattern, the market expert suggests that for a similar rally to occur in 2025, buyers must retrace 1-D MA50 as support level.

The TradingView Analyst chart compares Dogecoin’s current price action with its own Historical fractals In 2024. In both years, the meme coin experienced a period of correction followed by a bottom, as seen in the red triangle in the chart.

After reaching the bottom, DOGE traded within a range Descending channelwhich served as a prelude to a breakout, eventually leading to a significant bullish rally. On both occasions, as shown in the chart, one day for Dogecoin Relative Strength Index (RSI) The sequence followed a similar downtrend before breaking out and paving the way for higher prices.

Adding to the bullish narrative, Dogecoin has seen a Golden cross On the daily chart earlier this session. Here, the 50-day EMA has crossed above the 200-day EMA, which is historically viewed as a bullish signal.

If the Dogecoin 1D MA 50 indicator and price action follow the same path as historical records, it is possible that it will be repeated. Taurus march 2024which pushed it to the expected Fibonacci 3.0 extension target, which corresponds to the $1.6 price level.

The DOGE Bull flag suggests a higher price target

While other analysts Expect an increase to $1 For the price of Dogecoin, Tardigrade Trader expected On X (formerly Twitter) reported that the popular meme coin is preparing to rise to $2. The analyst identified the appearance of A Taurus flag Pattern on 2-day DOGE price chart.

It reveals that this bull flag pattern is worth $2 Target for DogecoinWhich represents a potential increase of 471% over the current market price. At the time of writing, DOGE is trading at $0.35, reflecting a slight decline of 3.1% over the past 24 hours, according to CoinMarketCap.

Featured image from Unsplash, chart from Tradingview.com