Dogecoin is currently trading at $0.169. Continue to callback After reaching $0.19 in late April. However, the price action in recent days Still showing some power $0.14 compared to the crash in early April. Despite some hesitation at the rally, meme coins are still building a structure that may be fundamental to make a bigger move forward. According to a chart shared by crypto analyst Masterananda, the ongoing merger may actually be The prelude to a major breakthrough Reminiscent of the explosive gathering of Dogecoin in previous cycles.
Dogecoin chart pattern prompts when repeated in the previous bullish stage
The core of Masterananda’s analysis Repeating structures of three marking lows on Dogecoin Daily Candlestick Time Range Chart. These lows are marked (1), (2) and (3) and are displayed on the left and right of the chart as shown below. On the left, these three lows develop between July and October 2024, each representing the stage of price correction. The current pattern on the right follows a very similar trajectory, with the same label indicating the recent market lows The continued price structure for 2025.
The formation of a higher low in September 2024 (3) points (3) points led to a major bullish impulse that brought Dogecoin to the $0.50 level. According to analysts, Dogecoin is now reflecting the same setting, where the current (3) low also forms a higher low relative to (2).
In addition, the decline wedge pattern across the February-April period has been broken. However, although the $0.145 support area has been firmly held firmly 3 times over the past two months, it is possible It can be retested again At the third low.
Analysts say actively buy and pass backtracking
Based on this analysis, Dogecoin may retest the area again for $0.145 to complete The formation of the third lowest Before the rebound. However, Masterananda’s advice is by no means conservative. He pointed out in his Tradingview post that this is not the time to sell Dogecoin. Instead, he called for panic buying and insisted that Dogecoin entered its strongest growth phase since the 2021 bull market. He urged readers to remove the order to stop the loss and view any short-term dipping sauce as a rare opportunity to buy. If you can’t buy more, hold it.
The last form of 2024 resulted in a 380% loss reaching a multi-year high of $0.48. If the same pattern works again, similar gatherings from $0.145 are close to $0.70, effectively bringing Dogecoin Return to its highest range in history. Although Masterananda did not explicitly demand such an extreme goal, he did determine the minimum expectations based on the current settings.
At the time of writing, Dogecoin trades for $0.1695.
Featured Images from Getty Images, TradingView.com Charts
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