Dogecoin Long-Term Bullish Structure Still In Play And Will Cross $10

Overview

Dogecoin (DOGE) has been highlighted for its long-term bullish potential despite recent subdued price movements. A prominent crypto analyst suggests that the technical structures supporting Dogecoin remain robust, indicating that the meme coin could eventually surpass the $10 mark.

Current Market Analysis

The recent analysis by crypto market expert Olivier D Maximus indicates that Dogecoin’s long-term chart structures signal sustained bullish potential. Although the monthly price action has not been particularly exciting, Maximus asserts that DOGE’s broader technical trend remains intact. His analysis suggests that Dogecoin could eventually experience a significant rally, potentially crossing the $10 threshold.

Maximus shared detailed chart analysis on X, revealing that Dogecoin’s monthly close did not generate immediate excitement. However, he emphasized that the underlying bullish framework is still in place. He noted that long-term structures often exhibit quiet behavior before substantial gains, and Dogecoin seems to be following this trend. He urged patience when analyzing higher time frames, as monthly charts tend to reflect macro trends rather than short-term volatility.

The analyst’s chart indicates that Dogecoin is trading within a well-defined Ascending Channel that has been in place for several years. The price remains above a long-term rising support zone, demonstrating higher lows over time. Additionally, the presence of multiple diagonal trend lines suggests that DOGE’s price has consistently corrected toward mid-channel support before resuming an upward trajectory. These pullbacks appear controlled, reinforcing the possibility of a healthy long-term uptrend.

Maximus also pointed out several all-time high (ATH) levels that he expects Dogecoin to reach in the future. The ascending channel illustrated in his chart suggests potential targets above $12 and possibly as high as $25. He conveyed that if Dogecoin maintains its structural integrity, future trends could propel the meme coin into double-digit territory, making a surge from under $1 to $10 technically plausible.

In a separate analysis, another crypto analyst, Trader Tardigrade, highlighted that Dogecoin is currently positioned within a Descending Triangle, with its price at the tip of the pattern around $0.122. This level is identified as a potential make-or-break point, where a price movement could dictate Dogecoin’s next significant move. If the price breaks above the upper boundary of the Descending Triangle, Tardigrade predicts a breakout to the upside, potentially targeting around $0.132, which would represent an approximately 8.2% increase from the current level. Conversely, a break below the lower boundary could lead to a decline toward $0.116, indicating a potential decrease of roughly 4.9%.

From author

The current analysis of Dogecoin’s market structure reveals a complex interplay between bullish patterns and potential resistance. The contrasting views presented by different analysts underscore the dynamic nature of cryptocurrency markets. While one analyst forecasts a long-term bullish trend, another highlights immediate price patterns that could lead to significant volatility. This divergence of perspectives is common in the crypto space and reflects the uncertainty that often accompanies trading in these markets.

Impact on the crypto market

• Dogecoin’s long-term bullish structure could influence investor sentiment and lead to increased interest in the meme coin.
• The potential for a breakout from the Descending Triangle may create short-term trading opportunities, attracting both retail and institutional investors.
• The prospect of Dogecoin reaching double-digit valuations could prompt market speculation, affecting the broader cryptocurrency market.
• Sustained bullish patterns in Dogecoin might encourage other cryptocurrencies to follow suit, particularly those with similar meme coin characteristics.
• The analysis highlights the importance of technical indicators in shaping market expectations and trading strategies within the crypto ecosystem.