The Dogecoin price has recently broken out of a Symmetrical Triangle pattern, signaling a potential for a bullish momentum. Interestingly, this breakout occurred just three days before Donald Trump’s presidential inauguration. Due to the timeline, a crypto analyst has issued a bullish price prediction, forecasting that Dogecoin could reach new all-time highs soon.
Dogecoin Price Breaks Out Of Bullish Chart Pattern
In an X (formerly Twitter) post on Friday, Master Kenobi, a prominent crypto analyst, presented a technical analysis of Dogecoin using historical data and technical patterns to forecast the meme coin’s future price. The analyst’s chart shows a Symmetrical Triangle, a bullish pattern often appearing when two converging trend lines meet.
According to Master Kenobi, Dogecoin has recently broken out of this Symmetrical Triangle, signaling a potential for a strong bullish move in the breakout direction. The red threshold highlighted on the analyst’s Dogecoin price chart shows the meme coin’s next key resistance level at $0.56.
Achieving a price beyond this resistance area at $0.44 suggests that Dogecoin will likely reach an all-time high of $0.74 as its ultimate target. Moreover, Master Kenobi revealed that Dogecoin’s recent breakout from its Symmetrical Triangle occurred three days before Trump’s Presidential inauguration on January 20, 2025.
Based on this timeline, Master Kenobi believes Dogecoin could hit a new ATH in three days, skyrocketing from its market value of $0.39 to $0.74. This considerable price surge presents a massive 89.7% increase from current prices. Looking at the chart, the analyst also indicated that Dogecoin’s projected surge will be gradual, potentially surging past $0.44 to reach a new resistance level at$0.56 and then rising to an ATH price level of $0.74.
Although Master Kenobi has maintained confidence in his bullish Dogecoin price projection, he also acknowledges the inherent uncertainty in his price predictions, advising investors to remain flexible in their strategies and hold their opinions.
Despite Dogecoin’s recent bullish performance ahead of Trump’s inauguration, the analyst’s technical analysis remains speculative and emphasizes the volatility of the crypto market. Nevertheless, the Dogecoin price is rising exponentially, jumping by 18.8% earlier this week and retesting the $0.4 psychological level.
Analyst Says Dogecoin Bull Run Incoming
According to prominent crypto analyst Trader Tardigrade, Dogecoin’s trend pattern in 2017 closely mirrors its current movement. The analyst has shared a chart providing a comparative analysis of Dogecoin’s price action in 2017 and its projected movement in 2025.
Both Dogecoin charts show a prolonged period of price consolidation after achieving significant local peaks. In both 2017 and 2025, Dogecoin experienced long-term downward pressure, building support near the horizontal blue line in the chart.
Additionally, the charts show a downward-sloping red trendline forming during Dogecoin’s consolidation phase. Based on Trader Tardigrade’s analysis, if Dogecoin can break above this trendline, it could signal the start of a massive bull run, potentially pushing the price of the meme coin above $3 and marking a new ATH.
Featured image from Business Insider, chart from TradingView
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