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Crypto analyst Marco Polo has supplied an optimistic forecast for the Dogecoin value, suggesting that a surge to a new local peak could be on the horizon. The analyst referred to technical indicators, which endorse this DOGE breakout.
Dogecoin Price Preparing For Traditional Movement
In an X post, Marco Polo indicated that the Dogecoin price is setting up for a traditional movement, which could result in a surge to $0.5. He indicated that the meme coin had already escaped from the falling wedge, although a retest was forthcoming. The analyst noted that the structure remains intact, with the trendline persisting for over a year.
Marco Polo also noted that the chart appears clean, having formed higher lows since June 2023. Meanwhile, the Dogecoin value has exhibited a clear diagonal breakout. The analyst confirmed that the upcoming leg towards $0.50 is “wide open” if DOGE reclaims the $0.25 area. He commented that Dogecoin always makes its move, whether or not it’s meme season.
Crypto analyst Master Kenobi also expressed his optimism regarding the Dogecoin price, asserting that it is “unwise” to hold a bearish perspective on DOGE at this moment. His accompanying chart illustrated that the leading meme coin could surge to as much as $14 if it interacts with the upper trendline of an ascending channel.
Master Kenobi also anticipates the Dogecoin price to surge to new peaks in the short term. In another post, he illustrated a chart that indicated that DOGE could soon replicate a parabolic increase from November 2024, when the meme coin surged to its current local high of just below $0.50. The analyst expects the meme coin to ascend to at least $0.45 during this upward trend.
Additional Optimistic Indicators For DOGE
In an X post, crypto analyst Trader Tardigrade disclosed that a breakout from a channel has transpired, coinciding with recent Dogecoin price actions just before a surge. His accompanying chart suggested that the target for DOGE on this impending rally is the highly-anticipated $1 price mark.
In another examination, the crypto analyst hinted at DOGE’s 2-month Bollinger BandWidth (BBW), which he described as intriguing. Based on this, he confirmed that significant movements are on the way for the DOGE price. His accompanying chart indicated that the premier meme coin could surge to as high as $30 by 2026.
In another post, he reiterated his expectations for a DOGE rally to double digits, stating that the Dogecoin price is poised for the next surge and suggesting that the leading meme coin could spike to $46 during this occasion.
At the moment of writing, the Dogecoin price is trading at around $0.21, having declined over the last 24 hours, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
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