Dogecoin Price Could Surge Above $1 As It Repeats This Trend From 2023-2024
Overview
The Dogecoin price is showing signs of a potential rebound, driven by a recognizable long-term pattern on its chart. This pattern has previously led to significant price movements, suggesting that Dogecoin may be entering a new bullish phase.
Current Situation
A crypto analyst has observed that Dogecoin is currently positioned at a critical support level, which previously marked the beginning of its last sustained rally. The latest technical analysis indicates that this setup closely resembles one that triggered a major breakout during the last cycle from 2023 to 2024. This historical context is essential for understanding the potential for a price increase.
Historical Context
The analyst has pointed out that Dogecoin’s weekly chart has settled on its support trendline for the third time within the current cycle spanning from 2021 to 2026. The chart shows that Dogecoin’s price reached this key level after a prolonged pullback, forming a structure similar to one seen in late 2023. In that previous cycle, the same pattern marked the beginning of a gradual upward trend that persisted throughout 2024, ultimately leading to a peak in the mid-cycle range.
The historical comparison reveals that during the earlier cycle, Dogecoin completed three closes at the support zone before experiencing a sharp upward reversal. The current weekly pattern mirrors this setup, as the price continues to tighten around a rising trendline and form higher lows.
Future Projections
The analyst has also indicated that there is a large boxed region on the chart that represents a projected phase from 2024 to 2025, suggesting that Dogecoin might still have room for upward movement. If historical patterns are to be believed, this could lead to another significant price increase above $1 by 2026.
Short-Term Developments
In addition to the long-term patterns, there are signs of improvement in Dogecoin’s lower-timeframe chart. The two-hour setup shows a breakout from a Descending Channel that had previously dictated price movements during a recent decline. This breakout is marked by the price line moving above the upper boundary of the channel, indicating a possible shift in short-term momentum.
Technical indicators, such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), support this shift. The RSI has surpassed its resistance zone, while the MACD histogram indicates a buildup of positive momentum. The analyst has noted that Dogecoin often begins its largest bull rallies with early signals on lower time frames before these movements are reflected in higher time frames.
Impact on the crypto market
- Dogecoin’s potential rebound could influence market sentiment, especially among retail investors.
- A price increase could attract more attention to meme coins and their market dynamics.
- The emergence of bullish patterns may encourage other cryptocurrencies to follow suit, leading to broader market movements.
- Improved technical indicators might attract traders looking for short-term gains, increasing trading volume.
- The historical context of Dogecoin’s price movements could set a precedent for future analysis of similar cryptocurrencies.
Updated: 11/19/2025, 10:23:22 PM
