Peter Smith
Dogecoin (DOGE) is sitting at a crucial support level in a descending triangle pattern. Crypto analyst Trader Tardigrade thinks this setup could send DOGE past $1, with an ultimate target of $4 if history repeats itself.
DOGE Holds Key Support as $1 Target Emerges
Right now, Dogecoin (DOGE) is camping out at a major support level that's part of a descending triangle formation. These patterns are notorious for creating explosive breakouts that make crypto traders lose their minds.
Instead of rolling over, DOGE seems to be coiling up like a spring. The price action is getting tighter, which usually means something big is brewing. That's what's got Trader Tardigrade, a well-known crypto analyst, fired up about DOGE potentially smashing through that $1 barrier.
The analyst shared his chart on X (formerly Twitter), showing how Dogecoin has bounced off horizontal support around $0.1369 three times. That's the floor of this triangle pattern, with a downward-sloping resistance line connecting lower highs back to DOGE's $0.4835 peak in December 2024.
What's really interesting is how this setup mirrors what happened in 2024. Back then, DOGE was around $0.0938 support, then boom - it exploded to nearly $0.48 in just weeks. That rally hit the 2.786 Fibonacci Extension level at $0.468 almost perfectly.
DOGE Technical Pattern Points to Breakout
Trader Tardigrade says if DOGE can pull off the same breakout magic, we could see a rally to the next 2.786 Fibonacci target at $1.09. That's a potential 580% gain from current prices around $0.16.
The analyst has a "1-2-3" pattern marked on his chart - trader-speak for multiple support tests that usually launch major moves. With that third bounce confirmed and DOGE still holding inside the triangle, everything's lining up for what could be an explosive move higher.
Trader Tardigrade drew a curved arrow pointing toward the $1 zone, suggesting this breakout could happen by late 2025.
Historical Patterns Suggest $4 DOGE Target
When Trader Tardigrade zoomed out to the monthly chart, he found something mind-blowing. The current DOGE pattern looks almost identical to what happened between 2015-2018.
Back then, Dogecoin went on a tear from around $0.0003 to $0.0026, before topping out at $0.009. The whole thing played out after a long accumulation period, followed by a vertical rocket ride along a rising trend line.
Today's monthly chart shows the same rounded bottom formations and base-building since 2022. That's why Trader Tardigrade thinks DOGE could first rally to $0.42, then push to $1.46, before ultimately hitting $4 - a mind-blowing 2,400% rally from current prices.
The combination of the descending triangle breakout and historical fractal analysis creates a perfect storm for DOGE. While crypto is unpredictable, sometimes the stars align to make even outrageous price targets seem possible.
Peter Smith
