DOGE continues its downward decline on Christmas Day as the token has retreated by 1% in the past 24 hours. However, one analyst sees an explosive move ahead and shared a bullish Dogecoin price prediction of $1 if historical patterns repeat.
Dogecoin seems headed to close the year with losses exceeding 60% as the crypto market has shunned well-established meme coins and has mostly favored exotic tokens like Pippin ($PIPPIN) and MemeCore ($M).
However, trader Alan Tardigrade spotted an interesting duplicate of a descending triangle pattern that popped up back in 2024, and that led to a spike in the price of DOGE shortly afterward.
Same as back then, the On-Balance Volume (OBV) technical indicator fell below a key area of support and then started to increase rapidly after DOGE broke the triangle.
Tardigrade predicts a potential move to $1 if this happens. This is consistent with the kind of upside potential seen in 2024, when DOGE spiked from $0.10 to $0.45 in a matter of weeks.
Dogecoin Price Prediction: DOGE Could Drop By Another 31% Before the Next Leg Up Commences
Looking at Dogecoin’s chart, there’s still room for further downside before this next leg up unfolds.
Trading volumes have subsided on Christmas Day as most traders are away enjoying the holidays. Data from CoinMarketCap shows a 25% drop, accounting for 3% of the token’s circulating market cap.
The price just broke below the $0.13 support, and could now be heading to the $0.09 area. This means a 31% downside risk in the near term.
The Relative Strength Index (RSI) has failed to move above the 14-day moving average and the mid-line for weeks. This means that bears are still in control of the price action as negative momentum readings continue to be high.
Apart from well-established meme coins like DOGE, a new mine-to-earn (M2E) game called Pepenode ($PEPENODE) offers a fun, easy, and inexpensive way to mine meme coins.
Pepenode ($PEPENODE) Presale Raises Nearly $2.4M to ‘Gamify’ Mining
Mining cryptocurrencies previously required thousands of dollars invested in expensive equipment. However, Pepenode ($PEPENODE) is here to change that by introducing a fun blockchain-based game that lets players launch mining servers instantly and without hassle.
Simply buy $PEPENODE tokens to launch a virtual server and fire up as many rigs as you want to compete for a top spot in the leaderboard. The best miners participate in getting airdrops of valuable meme coins like Bonk ($BONK) and Fartcoin ($FARTCOIN).
The more rigs you launch, the higher the rewards you will collect. In addition, up to 70% of the tokens used to upgrade existing rigs will be burned permanently to reduce $PEPENODE’s circulating supply.
To buy $PEPENODE, simply head to the official Pepenode website and link up a compatible wallet like Best Wallet.
You can either swap USDT or ETH for this token or use a bank card to complete your purchase.
Visit the Official Pepenode Website Here
The post Dogecoin Price Prediction: Chart Predicts $1+ DOGE – Analyst Says the Bull Run Could Start Any Moment appeared first on Cryptonews.
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