DOGE continues its downward decline on Christmas Day as the token has retreated by 1% in the past 24 hours. However, one analyst sees an explosive move ahead and shared a bullish Dogecoin price prediction of $1 if historical patterns repeat.
Dogecoin seems headed to close the year with losses exceeding 60% as the crypto market has shunned well-established meme coins and has mostly favored exotic tokens like Pippin ($PIPPIN) and MemeCore ($M).
However, trader Alan Tardigrade spotted an interesting duplicate of a descending triangle pattern that popped up back in 2024, and that led to a spike in the price of DOGE shortly afterward.
Same as back then, the On-Balance Volume (OBV) technical indicator fell below a key area of support and then started to increase rapidly after DOGE broke the triangle.
Tardigrade predicts a potential move to $1 if this happens. This is consistent with the kind of upside potential seen in 2024, when DOGE spiked from $0.10 to $0.45 in a matter of weeks.
Dogecoin Price Prediction: DOGE Could Drop By Another 31% Before the Next Leg Up Commences
Looking at Dogecoin’s chart, there’s still room for further downside before this next leg up unfolds.
Source: TradingVIewTrading volumes have subsided on Christmas Day as most traders are away enjoying the holidays. Data from CoinMarketCap shows a 25% drop, accounting for 3% of the token’s circulating market cap.
The price just broke below the $0.13 support, and could now be heading to the $0.09 area. This means a 31% downside risk in the near term.
The Relative Strength Index (RSI) has failed to move above the 14-day moving average and the mid-line for weeks. This means that bears are still in control of the price action as negative momentum readings continue to be high.
Apart from well-established meme coins like DOGE, a new mine-to-earn (M2E) game called Pepenode ($PEPENODE) offers a fun, easy, and inexpensive way to mine meme coins.
Pepenode ($PEPENODE) Presale Raises Nearly $2.4M to ‘Gamify’ Mining
Mining cryptocurrencies previously required thousands of dollars invested in expensive equipment. However, Pepenode ($PEPENODE) is here to change that by introducing a fun blockchain-based game that lets players launch mining servers instantly and without hassle.
Simply buy $PEPENODE tokens to launch a virtual server and fire up as many rigs as you want to compete for a top spot in the leaderboard. The best miners participate in getting airdrops of valuable meme coins like Bonk ($BONK) and Fartcoin ($FARTCOIN).
The more rigs you launch, the higher the rewards you will collect. In addition, up to 70% of the tokens used to upgrade existing rigs will be burned permanently to reduce $PEPENODE’s circulating supply.
To buy $PEPENODE, simply head to the official Pepenode website and link up a compatible wallet like Best Wallet.
You can either swap USDT or ETH for this token or use a bank card to complete your purchase.
Visit the Official Pepenode Website HereThe post Dogecoin Price Prediction: Chart Predicts $1+ DOGE – Analyst Says the Bull Run Could Start Any Moment appeared first on Cryptonews.
