Crypto analyst Marco Polo has provided a bullish outlook for the Dogecoin price, predicting that a rally to a new local high could be imminent. The analyst alluded to technical indicators, which support this DOGE breakout.
Dogecoin Price Setting Up For Classic Move
In an X post, Marco Polo stated that the Dogecoin price is setting up for a classic move, which could lead to a rally to $0.5. He revealed that the meme coin had already broken out from the falling wedge, although a retest was incoming. The analyst added that the structure remains intact, with the trendline holding for over a year.
Marco Polo also stated that the chart looks clean, having made higher lows since June 2023. Meanwhile, the Dogecoin price has had a clear diagonal breakout. The analyst affirmed that the next leg toward $0.50 is “wide open” if DOGE reclaims the $0.25 range. He remarked that Dogecoin always makes its run, whether it’s meme season or not.
Crypto analyst Master Kenobi also revealed his bullishness on the Dogecoin price, stating that he believes it is “imprudent” to be bearish on DOGE at this point. His accompanying chart showed that the foremost meme coin could rally to as high as $14 if it touches the upper trendline of an ascending channel.
Master Kenobi also expects the Dogecoin price to rally to new highs in the short term. In another post, he shared a chart that showed that DOGE could soon mirror a parabolic surge from November 2024, when the meme coin rallied to its current local high of just below $0.50. The analyst expects the meme coin to rally again to at least $0.45 on this move to the upside.
Other Bullish Indicators For DOGE
In an X post, crypto analyst Trader Tardigrade stated that a breakout from a channel has occurred, aligning with recent Dogecoin price actions just before a spike. His accompanying chart showed that the target for DOGE on this imminent rally is the much-anticipated $1 price level.
In another analysis, the crypto analyst alluded to DOGE’s 2-month Bollinger BandWidth (BBW), which he claimed is fascinating. Based on this, he affirmed that big moves are coming for the DOGE price. His accompanying chart showed that the foremost meme coin could rally to as high as $30 by 2026.
In another post, he again hinted at a DOGE rally to double digits, stating that the Dogecoin price is ready for the next pump and suggesting that the foremost meme coin could rally to $46 this time.
At the time of writing, the Dogecoin price is trading at around $0.21, down in the last 24 hours, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
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