Dogecoin is once again attracting the attention of analysts and traders with the formation of familiar market patterns. The current price stands at approximately $0.1925, up 2.4% over the past 24 hours, fueling speculation of a significant move toward $5.
Historical Triangle Patterns
According to data shared by CryptoElites, Dogecoin price cycles often start with the formation of symmetrical triangles, followed by steep upward rallies. These recurring patterns have appeared three times in the past, and the current price action seems to mimic those movements.
Confirmation of Bullish Consolidation
On a separate 4-hour Heikin Ashi chart from Trader Tardigrade, another triangular formation has emerged. The narrowing of support and resistance levels indicates a period of low volatility, often seen before significant trend reversals. With the price close to $0.1925, a move above the triangle's upper edge could signal a bullish push toward the $0.203 mark.
Long-Term Forecast at $5
The long-term projection of $5 is based on repeated historical triangle breakouts. Analysts believe that if DOGE can maintain an uptrend above $0.203, it may pave the way for a return to previous highs and even new records.
While reaching the $5 mark would require sustained investor interest and macro-market support, the technical basis for a rally exists, supported by recurring market structures and momentum indicators.
