Crypto analyst Trader Tardigrade has revealed that the Dogecoin price has formed a latest bullish pennant after the surge to $0.4. The analyst further revealed how high Dogecoin could rise following the formation of this bullish pattern.
Dogecoin Price To Reach $0.9 As Bullish Pennant Forms
In an X post, Trader Tardigrade mentioned that the subsequent stop for the Dogecoin price is $0.9 as one other bull pennant forms. The analyst revealed that the previous pennant took Dogecoin from $0.2 to $0.3, while this current one goals to send the foremost meme coin to $0.9. This bullish pennant indicates that DOGE will resume its upward trend once it’s done consolidating.
Trader Tardigrade had also recently revealed that the Dogecoin price had broken out of a bull pennant on the monthly chart. The analyst predicted that the breakout could cause DOGE to rally to $15 sometime in 2025, which could mark the Dogecoin peak in this bull run. He also recently raised the potential for a DOGE price rally to as high as $30 if it mirrors the 2021 bull run.
Nonetheless, within the short term, crypto analyst Kevin Capital has warned that the Dogecoin price could still consolidate and proper for around two more weeks. He mentioned that the goal for Dogecoin can be between $0.26 and $0.30, which is the golden pocket retrace level. He added that may represent a 30% to 40% correction from the local top, which is an ideal size correction in a bull market.
Meanwhile, in the long run, Kevin can also be bullish like other analysts like Trader Tardigrade. The analyst predicted that the Dogecoin price could reach between $1 and $2 by year-end. Crypto analyst Dj Anas also predicted that Dogecoin could reach $1 by year-end based on the Fibonacci levels.
DOGE To $10 Looking More Likely
Crypto analyst Javon Marks has said that a Dogecoin price rally to $10 on this market cycle is looking more likely. He remarked that the technical evaluation, historical trends, and current support such a bullish outlook for Dogecoin. A rally to $10 represents one other gain of over 2,400% for Dogecoin, and the analyst believes this rally may already be in play.
As for current events supporting such a parabolic rally, Javon Marks noted that a governmental organization is now named after the foremost meme coin. That is in reference to the Department of Government Efficiency (D.OG.E), which the US President-elect Donald Trump has appointed Elon Musk, a Dogecoin supporter, to co-lead.
On the time of writing, the Dogecoin price is trading at around $0.38, up over 3% within the last 24 hours, in accordance with data from CoinMarketCap.
Featured image from CNBC, chart from TradingView