The Dogecoin price has been on a major bullish trend lately, achieving new highs driven by political events and market sentiment. As the top meme coin navigates the volatile market, a crypto analyst projects that DOGE could be gearing up for a monster rally in the first quarter (Q1) of 2025. The analyst has set a new ATH target for Dogecoin , expecting it to surge past the $1 mark. Dogecoin Price Rally To New ATH Incoming On January 22, TradingShot, a crypto analyst on TardingView, declared that Dogecoin is preparing to reach a new ATH of $1.6 in Q1 2025. The analyst shared a chart examining the meme coin price action daily and highlighting key technical indicators and patterns supporting his bullish forecast . According to the TradingView expert, the 1-Day 50 Moving Average (MA) is an important blue trend line currently acting as a support level for Dogecoin . He disclosed that the meme coin had previously attempted to break above this trend line; however, a recent pullback had pushed its price back to this support zone. The analyst noted that during Dogecoin’s past price action , between September and November 2024, it broke above the MA50, successfully retesting this critical support level and triggering a major price rally . This significant bullish trend lasted about two months, pushing DOGE to the 3.0 Fibonacci extension level after it hit a price bottom on August 5, 2024. Based on this pattern, the market expert suggests that for a similar rally to occur in 2025, buyers must reclaim the 1-D MA50 as a support level. The TradingView analyst’s chart compares Dogecoin’s current price action with its historical fractals in 2024. In both years, the meme coin experienced a period of correction followed by a bottom, as seen in the red triangle in the chart. After bottoming out, DOGE traded within a Descending Channel , which acted as a precursor to a breakout, ultimately sparking a major bullish rally. On both occasions, as indicated on the chart, Dogecoin’s 1-Day Relative Strength Index (RSI) sequence followed a similar downtrend before breaking out and paving the way for the price rally. Adding to the bullish narrative, Dogecoin experienced a Golden Cross on the daily chart earlier in this cycle. Here, the 50-day MV crossed above the 200-day MA, which is historically viewed as a bullish signal. If Dogecoin’s 1D MA 50 and price action follow the same path as historical records, it could replicate 2024’s bull rally , pushing it to the projected 3.0 Fibonacci extension target, corresponding with the $1.6 price level. DOGE Bull Flag Suggests Higher Price Target While other analysts project a surge to $1 for the Dogecoin price, Trader Tardigrade forecasted on X (formerly Twitter) that the popular meme coin is preparing for a higher rise to $2. The analyst has identified the emergence of a bull flag pattern on the DOGE 2-day price chart. He reveals that this bull flag pattern measures a $2 target for Dogecoin , marking a potential 471% increase from its current market price. As of writing, DOGE is trading at $0.35, reflecting a slight 3.1% decline in the past 24 hours, according to CoinMarketCap.
