Here’s Why an Explosive Breakout Could be Coming for Dogecoin Investors
23.01.2025 9:00 1 min. read Kosta Gushterov
A crypto analyst has highlighted Dogecoin (DOGE) as a promising investment, citing key technical patterns that signal a potential price surge.
Known as CobraVanguard on TradingView, the analyst pointed to two bullish formations on the 4-hour chart that suggest Dogecoin could break out in the near term.
The first pattern, an Ascending Triangle, indicates growing buying pressure and hints at a breakout if resistance between $0.37 and $0.40 is surpassed.
The second pattern, the Cup and Handle, points to a continuation of upward momentum after a period of consolidation.
If these patterns hold, Dogecoin could rally to $0.50, representing a nearly 39% increase from its current trading price of $0.36.
Adding to the analysis, the possibility of a Butterfly pattern—a harmonic signal often linked to reversals or trend continuations—could also play a role in shaping DOGE’s price movement.
Dogecoin has already seen a 6.3% gain in the past 24 hours and over 15% growth in the past month, further fueling optimism about its short-term potential.
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