The price of the breast coin we will talk about in the article has declined since the beginning of the year, but a famous crypto analyst says that this coin is actually on the verge of a big jump. According to him, technical analysis signals indicate that Dogecoin can soon test $ 1. Especially the falling wedge formation in the weekly graph draws attention.
Strong claim from the analyst: “Doge breast coin goes to $ 1”
The crypto currency expert says that despite the fact that the Dogge price moves away from the 2024 summits, he has seen a clear recovery signal in the graphics. The falling wedge formation in the weekly graph is known as the pioneer of historically great rise.
Analyst says that this formation, which has combined the highest and lowest levels since December, offers a strong breaking signal for Dogecoin. In the past, a similar formation had increased the price of Dogge over 700 %at the end of 2023.
0.50 dollars Search target, the main target 1 dollar
Doge tested the highest level of $ 0,280 in March 2023 and reacted from this level upward. Analyst says that this movement is a break and re -test formation and that this structure can start a new rally.
In this case, it is stated that Doge may rise to $ 0.50 and then to $ 1. This level reaches an increase of approximately 400 %of the current price. Since Dge, in 2024, a 720 %rally, it is emphasized that a similar movement is not impossible.
Potential catalysts that can carry Dogecoin for $ 1
There are many factors that can withdraw the price of Dogecoin. First, the economic uncertainties in the United States and a possible stagnation can take place in the Fed’s interest rate cut and monetary expansion steps. This can start a new bull season for the crypto market.
Secondly, the expectation of an ETF approval for Doge is quite high in the market. According to Polymarket data, the fact that SEC sees Doge as an out -of -value being like Bitcoin strengthens this possibility. ETF approval may enable corporate investors to turn to Dogge.
Doge protects the status of blue chip breast coin
As one of the most established and strong breast coins in the market, Dogecoin maintains the status of “Blue-Chip”. The risky structure of new breast coin projects in Solana ecosystem can direct investors to safer ports. Doge may come back to the fore in this context.
In addition, the potentially included in the list of national crypto reserves of Dogecoin may also be effective on the price. Given all these developments, the target of $ 1 for Dogecoin does not seem far away.
