Dogecoin Following the Bullish Pattern—Here’s When the DOGE Price May Hit a New ATH at $5
As Bitcoin prices strengthen, the market has also turned bullish. Most cryptocurrencies have made a strong recovery from the recent pullback, which has kept the momentum going for most altcoins. While some altcoins experienced significant gains, Dogecoin experienced a slight increase but faced a significant bearish move before entering bullish territory. Regardless of bearish interference, dog price With a new ATH of $5 pre-set, it remains primed for a significant move higher.
Dogecoin gained mainstream attention during the 2021 bull run. Furthermore, the bull run started with DOGE price rising, surging from consolidation near $0.0045 to highs of $0.7376. A similar rise has been seen since the start of the last quarter of the year, which is expected to trigger a 2021-like bullish trend. that’s why.
Recently, DOGE price has shifted from a long-term consolidation in the accumulation phase from early November to mid-December to a manipulation phase. Historically, strong allocations are expected, which is expected to drive DOGE price to new ATH.
A popular analyst, tardigrade merchantdiscover the similarities between the 2021 bull market and current price action. The analyst emphasized that cryptocurrencies are repeating the same consolidation phase they experienced in 2021. DOGE price surged sharply in January 2021, followed by a minor consolidation, which further led to a sharp breakout of ATH. Currently, prices are experiencing the same consolidation pattern, suggesting that the next price action in January could be a big bang month.
Many analysts and veterans are looking forward to a strong bull run in 2025, which could further trigger a copycat season. If the Dogecoin (DOGE) price increase repeats previous patterns, market participants may expect a new ATH well above the $1 milestone, closer to $4.5 to $5. Once these levels are reached, bears will have a hard time pulling the price back below $1, even during a strong bear market.
