Crypto analyst Trader Tardigrade has provided insights into the Dogecoin (DOGE) future trajectory. Based on his analysis, the foremost meme coin could soon enjoy a god candle, sending its price to unprecedented heights.
Dogecoin’s Massive Rally Will Send It To $7.5
Trader Tardigrade predicted in an X (formerly Twitter) post that Dogecoin will rise to as high as $7.5 when it makes its “huge surge.” He made this prediction while revealing that the meme coin had formed a triangle consolidation, which is the last phase of consolidation before Dogecoin made that massive move to the upside.
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The crypto analyst also revealed that these triangle consolidations have formed in every market cycle and usually occur just before Dogecoin enjoys a parabolic rally. Trader Tardigrade has been bullish on DOGE for a while now and has continued to lay out bullish narratives for the meme coin.
In one of his previous X posts, he highlighted a ladle pattern, which he claimed has always formed for the meme coin in every cycle. He mentioned that “the bowl” was ready and was almost time for the shaft. The chart he shared showed that Dogecoin could rise above $2 once the shaft had formed.
In another post, Trader Tardigrade highlighted a parallel channel that Dogecoin usually follows. He then claimed that the meme coin’s next move would be “huge” while revealing that DOGE had left the lower support line of the current channel. Based on the chart he shared, Dogecoin could rise to $12 when that move happens.
Meanwhile, Trader Tardigrade isn’t the only analyst who has alluded to Dogecoin’s historical patterns to predict the meme coin’s future trajectory. Crypto analyst Javon Marks recently predicted that Dogecoin could rise to as high as $17 based on its historical breakout trend, in which the meme coin always enjoys a larger run in every subsequent bull run.
Dogecoin Current Outlook
Despite the bullish predictions made by these analysts, Dogecoin seems to have a bearish sentiment around it at the moment. Crypto analyst Kevin (formerly Yomi OG) revealed that DOGE has lost all of its daily moving averages, which he noted is a “very bad sign” for Dogecoin in the short to medium term if it cannot reclaim these moving averages.
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The crypto analyst added that Dogecoin had made a lacklustre bounce after tapping the golden pocket down at $0.11. For now, he claimed that the point of interest is Dogecoin climbing above $0.132 and that it would need to hold above the range between $0.10 and $0.11 should the meme coin go lower.
At the time of writing, Dogecoin is trading at around $0.12, down in th last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com