Analyst Identifies Timeline for Dogecoin to Begin Its Next Leg, Targets $3.8 to $4
A market analyst has set a potential timeline for Dogecoin to begin its next leg up, setting ambitious price targets.Dogecoin (DOGE) has entered an important phase following its impressive rally earlier in November, which saw prices soar to a multi-year peak of $0.48 on Nov. 23. The crypto asset has since experienced a pullback amid a broader market correction.As Dogecoin now consolidates around $0.45, analysts believe the meme coin is currently building momentum to begin its next uptrend. With bullish momentum building, these analysts expect the next leg up to push DOGE to unprecedented highs.Dogecoin Golden Pocket Targets $4Lead Dogecoin analyst Kevin recently highlighted historical trends around Dogecoins price behavior. He drew parallels to earlier cycles and observed that after its initial major rally, Dogecoin consolidated for 24 days before embarking on another upward move. https://twitter.com/Kev_Capital_TA/status/1864110830947631236According to the analyst, if the current cycle follows a similar trajectory, he anticipates the next leg of the rally to begin by the end of this week. He projects a path toward the macro golden pocket, which he estimates to be between $3.80 and $4.00. However, Kevin tempered his optimism by acknowledging the ambitious nature of this prediction but maintained that achieving a new ATH by the end of December remains feasible.DOGE Symmetrical Triangle and Bull PennantMeanwhile, market analyst Captain Faibik is also extremely bullish on Dogecoin. In his latest report, he confirmed that Dogecoin has continued to move within a symmetrical triangle pattern since early November. Interestingly, data from his 4-hour chart suggests that he expects a breakout from this pattern to trigger a massive 55% rally, comparable to previous upsurges. If this scenario unfolds, Dogecoin could reach a new multi-year peak of $0.70 in the short term.
Text source: The Crypto Basic
