Dogecoin Analysts Predict $1 Breakout After Consolidation

Crypto analyst EtherNasyonal’s technical analysis reveals that Dogecoin’s price action remains within a powerful long-term Ascending Channel that has maintained structural integrity since 2014. The monthly chart analysis shows DOGE establishing a multi-year accumulation base, strikingly similar to the patterns formed before its explosive rallies in 2017 and 2021. This long-term structure suggests that beneath the short-term turbulence lies a foundation for significant price appreciation.

Currently trading around the lower boundary near $0.18, Dogecoin’s position within this rising parallel channel historically signals potential for parabolic upward movement. EtherNasyonal emphasizes that each time DOGE has completed a similar descending pattern within this structure, it has initiated massive price surges. The previous breakout propelled the meme coin by several thousand percent, lifting it from fractions of a cent to all-time highs above $0.70.

The analyst’s projection targets the upper midline of the Ascending Channel, potentially above $1, if historical patterns repeat. The visible rounded base pattern between 2022 and 2024 reflects steady accumulation and potentially decreasing selling pressure, indicating that momentum is quietly building above key support levels for what could become the next expansion phase.

Dogecoin’s technical setup shows remarkable parallels to previous market cycles that preceded massive rallies. The multi-year accumulation base currently forming mirrors the consolidation periods that occurred before both the 2017 and 2021 bull runs. These historical precedents provide context for understanding the potential magnitude of the next move.

The chart structure demonstrates that when Dogecoin completes its descending pattern within the long-term Ascending Channel, the subsequent moves have been dramatic. The previous breakout resulted in gains measuring several thousand percent, transforming DOGE from a fraction of a cent to establishing new all-time highs. This pattern repetition suggests the current consolidation could be the calm before another significant storm.

EtherNasyonal’s analysis indicates that the current price action represents more than just typical market volatility—it reflects the formation of a substantial base that could support a sustained upward trajectory. The steady accumulation visible in the rounded base pattern between 2022 and 2024 points to decreasing selling pressure and increasing investor confidence in the meme coin’s long-term prospects.

Complementing the long-term bullish narrative, crypto analyst Trader Tardigrade provides additional context through shorter-term price action analysis. His 4-hour chart highlights a ‘false breakout’ followed by a ‘false breakdown’ pattern that often precedes significant recovery moves. Dogecoin initially broke above resistance near $0.206 but failed to hold, retracing sharply to retest the lower boundary around $0.178.

This quick reversal pattern, marked by aggressive selling followed by a swift rebound, typically signals that buyers are stepping in to absorb liquidity and push prices upward. The breakdown beneath horizontal support levels proved short-lived, indicating underlying strength in the DOGE market despite apparent weakness. Trader Tardigrade’s analysis suggests this pattern often marks the beginning of renewed upward momentum.

The chart setup indicates that DOGE could soon reclaim the $0.20 – $0.21 region as the next target zone from its current price of $0.18. If this bounce continues and aligns with the broader monthly structure identified by EtherNasyonal, it could serve as the first leg of a sustained uptrend. This convergence of short-term bullish signals with long-term positive structure creates a compelling case for Dogecoin’s potential trajectory.