A well-known market analyst has drawn attention to a recurring Dogecoin (DOGE) pattern that could finally push the meme coin beyond the elusive $1 price mark. This psychological milestone has remained just out of reach since the last bull run in 2020/2021.
Even during Dogecoin’s explosive surge in 2021, the highest it managed was $0.74, falling short of the highly anticipated $1 level. However, that rally positioned DOGE for another attempt in the next bullish phase. Now, market expert Chandler has identified a familiar trend in Dogecoin’s price movements, one that could be the key to achieving this long-awaited breakthrough.
Dogecoin’s History of Higher Highs Suggests a $1 Breakout
Chandler has observed that Dogecoin follows a pattern where each time it forms a higher high and experiences a pullback, the subsequent rally propels it to an even greater high. This phenomenon has been consistent since December 2023, when the current bullish cycle first began taking shape.
Each time Dogecoin rebounds, the new peak is 112% higher than the last. This trend first became evident between December 2023 and February 2024, when DOGE reached $0.1075 on December 11, following a rally in October 2023. However, after hitting this high, Dogecoin experienced a pullback that briefly sent prices below this level.
As the recovery phase kicked in, DOGE soared to a new peak of $0.2290 in March 2024, fueled by the ongoing meme coin craze. Notably, this new high was 112% higher than the previous peak of $0.1075 in December.
Read article: Dogecoin Drops 28%: Can DOGE Hold Above $0.25?
Trump’s Election Victory Fuels Another Rally
After reaching $0.2290, Dogecoin faced another market correction until October 2024. At this point, Donald Trump’s election victory triggered a fresh wave of optimism in financial markets, including cryptocurrencies. As a result, Dogecoin surged to an even higher peak of $0.4846 in December 2024, marking another 112% increase from the previous top of $0.2290.
Once again, the market is witnessing another pullback from $0.4846, and Chandler believes this signals yet another powerful rally ahead. If Dogecoin follows the same pattern, the next upward move could result in a price increase of 112%, bringing DOGE to $1.02.
Broader Market Expectations for Dogecoin’s Future
Chandler is not alone in his prediction. Several other prominent analysts also foresee Dogecoin breaking through the $1 barrier in this market cycle.
WSB Trader Rocko has suggested that this milestone could arrive sooner rather than later. Meanwhile, Trader Tardigrade reinforced this idea by citing his PO3 market structure, which aligns with Chandler’s price trajectory.
While many experts see $1 as Dogecoin’s primary target, some believe the meme coin could go far beyond that level. Javier Santini, for instance, predicts that after this breakout, Dogecoin could soar as high as $4, turning its latest correction into a springboard for even greater gains.
With historical price action aligning with analyst predictions, the question now is not whether Dogecoin will reach $1, but how much higher it can climb once that psychological barrier is broken.
