Expert Says Dogecoin Second Bull Flag Structure To Take Doge to $0.90
The latest Dogecoin rally has positioned the meme coin among the top gainers, with analysts pointing to further upside amid a bull flag formation.Trader Tardigrade, a market expert, recently shared an analysis pointing to $0.90 as Dogecoins next target, citing the formation of a second bull pennant pattern on the 2-hour price chart. The First Dogecoin Bull PennantThe first bullish pennant formed between Nov. 5 and 7. This pattern began with an initial surge from $0.1677 to $0.2187, coinciding with market optimism following a significant geopolitical eventthe victory of Donald Trump in the U.S. elections. This rally created the flagpole of the first pennant.Shortly after reaching the $0.2187 peak, Dogecoin faced a pullback, dropping to $0.1857 as profit-taking ensued. However, the asset entered a phase of consolidation, during which prices stabilized within a narrowing range, forming the flag portion of the pattern. When Dogecoin broke above this pennants upper resistance on Nov. 7, the move ignited a massive rally. Over the next five days, the price soared to a three-year high of $0.4389 by Nov. 12, marking a staggering 139% increase from a $0.1857 low on Nov. 7.Dogecoin Forms the Second Bull Pennant Following the rally to $0.4389, Dogecoin dropped and entered another consolidation phase. The latest price action mirrors the first bull pennant structure, with the recent surge forming a second flagpole. This rise, which pushed DOGE from $0.3 to $0.4389, set the stage for the ongoing consolidation.
Text source: The Crypto Basic
