The world of cryptocurrency is constantly evolving, and Dogecoin is at the forefront of this dynamic market. Currently, the price of Dogecoin is navigating through a crucial defensive zone characterized by a descending triangle formation, a pattern often heralded for initiating significant price movements. Observers note that the market isn’t simply tapering off but is instead experiencing a notable compression, hinting at a possible surge that might breach the illustrious $1 milestone.
The $1 Milestone: A New Opportunity for Dogecoin
Respected crypto analyst Trader Tardigrade has recently made a bold statement regarding Dogecoin, projecting that this beloved meme currency is poised to break the much-discussed $1 mark. In his detailed assessment shared on X, the analyst showcases the completion of a descending triangle that provides an entrenched foundation for potential growth.
Inspecting the latest 1-day chart, Dogecoin demonstrates three distinct interactions with a horizontal support line near the $0.1369 level. This support serves as the triangle’s foundation, while a waning resistance line signifies the lower highs that track back to the peak of $0.4835, recorded in December 2024.
As highlighted by Trader Tardigrade, this structural arrangement draws parallels with a prior breakout pattern from 2024, where Dogecoin galloped from a sturdy base at roughly $0.0938 to near $0.48 within a matter of weeks. This earlier spike coincided gracefully with the 2.786 Fibonacci Extension level at approximately $0.468.
Remarkably, if Dogecoin can emulate the momentum of its earlier breakout cycles, analysts believe it could surge towards the next Fibonacci target, projected at $1.09, presenting investors with an opportunity for significant returns, potentially exceeding four times the current valuation.
In addition, the unique “1-2-3” price structure showcased on the chart illustrates multiple interactions with the support level, which are classic precursors to forthcoming breakout scenarios. With the third confirmation now logged and Dogecoin continuing its journey within the descending triangle’s confines, the conditions seem ripe for a dramatic price surge, leading toward the $1 threshold by late 2025. Trader Tardigrade captures this optimistic outlook through a stylized curved dotted arrow on his analysis, signifying a robust move upwards.
Looking Back: Historical Patterns Favor Growth
In an insightful macro-level examination of Dogecoin’s historical performance, Trader Tardigrade investigates price actions over previous years, pointing out compelling correlations between cycles from 2015-2018 and the ongoing trends established since 2022.
During its past cycle, DOGE climbed from a mere $0.0003 to a peak of $0.009, a gain attributed to a meticulous accumulation phase followed by rapid expansions along a supporting trendline.
Currently, Dogecoin’s chart exhibits striking similarities to this past fractal, featuring rounded bottoms and foundational formations dating between 2022 and 2025. This leads Trader Tardigrade to forecast that the price of DOGE could initially rise to $0.42 before achieving a substantial target of $1.46. Should these levels be surpassed, a formidable breakout toward $4 could materialize, indicating an impressive potential growth of 2,400% from its existing valuation of $0.16.
