Dogecoin Price Prediction: Over the past two weeks, Dogecoin (DOGE) has experienced a notable recovery, climbing from $0.075 to a recent peak of $0.091, marking an impressive 28.8% increase. This rally is likely fueled by positive investor sentiment, bolstered by Dogecoin’s recent association with various space programs. During this ascent, the DOGE price has successfully breached the resistance trendline of a long-established triangle pattern, suggesting a potential trend reversal.
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For over two years, the Dogecoin price has been confined within the converging trendlines of a symmetrical triangle pattern. This chart setup has steered the memecoin through an extended accumulation phase, following the substantial downtrend it underwent from May 2021 to May 2022.
However, with the crypto market gradually shifting back to a recovery mode, the DOGE price has shown a robust rally since mid-October. The price escalated from $0.0572 to $0.089, constituting a 55% growth in just two months.
On December 2, the buyers achieved a bullish breakout from the triangle pattern’s upper boundary, indicating a shift in market sentiment. According to the pattern setup, each swing high retesting the upper trendline could serve as a target for the triangle pattern, suggesting the Dogecoin recovery trajectory may target a significant increase to $2.06, equating to a potential growth of 78.84%.
Nevertheless, this anticipated uptrend might encounter resistance at $0.105 and then at $0.132.
In comparison with Bitcoin, both cryptocurrencies have shown substantial recovery in the last two weeks. While the Bitcoin price rise has been more consistent, the Dogecoin price trajectory included occasional pullbacks. Therefore, Doge holders should withstand this correction and leverage them as buying opportunities.
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