Dogecoin (DOGE) Price Shows 2017 Bull Run Pattern, Could Break $1?

Bittime - The Dogecoin (DOGE) price is predicted to reach the $1 level soon. This prediction is caused by the same pattern as the 2017 bull run.

If these predictions are correct, then is it time to enter the Dogecoin market? Read this article for complete analysis and predictions!

Dogecoin (DOGE) Price Pattern Similar to the 2017 Bull Run

Master Kenobi, a crypto analyst, revealed that Dogecoin (DOGE) price is currently reflecting a bullish pattern which resembles the two-stage increase pattern that occurred in 2017.

This pattern is when the price of Dogecoin experienced a spike, then experienced a long correction before finally surged parabolically to new highs.

If this scenario repeats itself, DOGE is expected to enter the second phase of the bullish cycle, similar to the movement that occurred seven years ago. Kenobi even predicted that the price of Dogecoin could reach $1.1 in the first week of June.

Read Also: There is a Bullish Signal Even though the Dogecoin Price is Falling, It Could Break a New ATH!  

Dogecoin (DOGE) Price Will Be Bullish Soon? 

Apart from Master Kenobi, other crypto analysts, Crypto Lycus also believes that the price of Dogecoin (DOGE) has bottomed out and is ready to experience an upward reversal. 

Lycus explained that DOGE shows a bottoming pattern after experiencing a sharp correction from $0.50 to the support level around $0.17. This level is very critical for the DOGE because it becomes a consolidation area before the final breakout occurs. 

If Dogecoin price manages to rebound from this level, Crypto Lycus predicts that this asset could surge towards $0.25 to $0.35 soon.

However, Lycus also reminded that if DOGE fails to stay at this support level and experiences a breakdown, it is very likely that this asset will test the lower level again, at $0.10.

Dogecoin (DOGE) Price Technical Indicators

Another crypto analyst, Trader Tardigrade, also saw the existence of a strong reversal signal on Dogecoin (DOGE) price chart. He observed DOGE's weekly candle just closed with the pattern doji, which is often an indication of bullish.

Furthermore, Trader Tardigrade explained that this doji pattern appeared right at the beginning of Dogecoin's last price spike, which strengthens the possibility of its occurrence reversal to an uptrend.

Also, based on technical analysis on the 4 hours chart, Dogecoin forms an ascending triangle pattern with higher low, which is a bullish formation. If this pattern is successfully confirmed, DOGE has a potential jump to $0.20 in the short term.

Read Also: Bitwise Officially Proposes Dogecoin ETF, From Joke to Serious Asset!  

Current Dogecoin (DOGE) Price  

Source: Bittime.com

Based on Bittime market, Dogecoin (DOGE) price is around $0.16, rises 0.15% in the last 24 hours when this article was written.

Despite experiencing a correction in recent weeks, DOGE is starting to show a slight increase. Technical indicators also show that this asset still has the potential to rise even higher. 

With a bullish pattern that resembles the movement of 2017, as well as a technical formation that supports the reversal, Dogecoin could reach the ambitious target of $1.1 in the next few months.

Read Also: DOGE Price Prediction 2025: Potential Dogecoin Pump!  

Dogecoin FAQs

What is Dogecoin?

Dogecoin is a meme coin created in 2013 by Billy Markus and Jackson Palmer. Originally created as a joke, Dogecoin has now become one of the most popular crypto assets with a large and active community.

What is the Difference Between Dogecoin and Bitcoin?

Dogecoin has an unlimited supply, while Bitcoin has a maximum supply of 21 million coins. In addition, Dogecoin transactions are faster and have lower fees than Bitcoin, making them more suitable for everyday payments.

What is the use of Dogecoin?

Dogecoin is often used for online tipping, charitable donations, and micropayments. Apart from that, the community is also active in supporting social projects.

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Reference

Bitcoinist, Dogecoin Price Is Mirroring This Bullish Pattern From 2017, Next Stop $1.1?, accessed March 19, 2025.

Author: IPR