Dogecoin has recently shown positive price movements, breaking out of a bull flag pattern after a period of consolidation that started following a new yearly high on November 12.
Over the weekend, Dogecoin’s price broke above this bull flag, reaching a peak of $0.4759 before undergoing a retest. Analysis indicates that if this breakout holds, Dogecoin could see a price surge to $1.2 in the next 10 to 15 days.
Forecast for Dogecoin Price at $1.2 in 10-15 Days
Market players are keeping a close eye on Dogecoin to assess its trajectory in the coming days. A technical analyst known as CryptoManiac101 has predicted that the current price trajectory suggests a potential rise to $1.2 within the specified timeframe.
According to CryptoManiac101, Dogecoin has successfully surpassed the bull pennant formation, but it is now retesting the breakout level, which is crucial for determining future price developments. The analyst highlighted this retest as a pivotal point that could either confirm or negate this bullish pattern.
Statistical insights on bull pennants indicate a 70% likelihood of continued price movement following a successful breakout. CryptoManiac101 suggested that this likelihood could be even greater due to the current altcoin market trends, implying that significant upward movements for Dogecoin are probable soon.
Key price targets are set between $0.74 and $1.20, achievable within the next 10 to 15 days, provided there is a confirmatory breakout continuation. It is essential for Dogecoin to maintain its price above $0.39; a drop below this level could invalidate the bullish scenario and trigger a downward trend.
Future Outlook for DOGE Price
As of now, Dogecoin is priced at $0.4252, reflecting a decrease of 2.35% over the past day. Achieving the targets of $0.74 and $1.2 would represent increases of 74% and 182%, respectively, from the current price.
Reaching either target would see Dogecoin surpass its previous all-time high of $0.7316. However, it is important to note that these projections are short-term. Some analysts predict even more aggressive long-term targets for Dogecoin, with expectations that it could reach $3 by January 2025.
