Dogecoin Price Recovery Triggers Strength For 75% And 234% Surge, Here's How

The Dogecoin price is showing remarkable strength because it goals to get better and potentially surge to latest all-time highs. Distinguished crypto analyst Javon Marks has projected that the Dogecoin price recovery could trigger a big price rally, driving gains of 75% within the short term and a powerful 234% surge in the long run.

How The Dogecoin Price Can Rally 75% And 234%

In an X (formerly Twitter) post on Friday, Marks revealed that the Dogecoin price currently displays significant strength, indicating positive market performance and potential for sustained bullish momentum to latest price highs. The analyst shared a chart, declaring that Dogecoin has broken above a descending trend line that has acted as a critical resistance for nearly two years.

Source: X

A descending trend line is a technical pattern that identifies a bearish trend in an asset. Since Dogecoin was previously trading inside such a trend line, it indicates its price had been in a severe downward trajectory, marked by declines and prolonged periods of consolidation because it struggled to beat critical resistance levels.

Dogecoin’s breakout above the descending trend line is hailed as a significant bullish signal, marking the potential end of a chronic price stagnation. Moreover, Mark’s chart evaluation shows that if Dogecoin can hold above its breakout point, it could confirm a robust upward momentum towards its next price targets.

The crypto analyst forecasts that Dogecoin’s ongoing price recovery could trigger a surge to its first bullish goal of $0.653. Reaching this price level would yield a staggering 75% gain from Dogecoin’s current price. Should the meme coin maintain its strength and upward trajectory, the analyst anticipates a good greater price increase to $1.25, marking a staggering 234% increase.

The Dogecoin price is currently trading at $0.38, showing robust growth amidst broader market volatility. The analyst’s emphasis on the meme coin’s strength comes as CoinMarketCap’s data revealed that the Dogecoin price has recorded a staggering 21% increase prior to now week. The favored meme coin can be maintaining its bullish momentum, experiencing a big 14% price surge within the last 24 hours.

Dogecoin To Hit $1 Milestone Inside This Technical Pattern

Because the Dogecoin price continues to point out strength, various market experts have issued multiple bullish forecasts for the highest meme coin. One notable Dogecoin price prediction by Trader Tardigrade, a outstanding crypto analyst, suggests that the meme coin could reach its coveted $1 milestone in January 2025.

The analyst shared a chart highlighting that Dogecoin has recently entered a Distribution phase within the “Power of Three (PO3) pattern.” This unique pattern breaks down market movements into three phases to point smart money movement: Accumulation, Manipulation, and Distribution.

Throughout the Distribution phase of this technical pattern, Trader Tardigrade believes that Dogecoin could rise to $1. The analyst has expressed confidence in his projection, emphasizing that a 163% rise from Dogecoin’s current market value to $1 was an inexpensive goal.