Is it Time to Accumulate Dogecoin? Analysts Predict Bullish Wave Up to $0.4!

Updated

May 7, 2025

Gambar Is it Time to Accumulate Dogecoin? Analysts Predict Bullish Wave Up to $0.4!

Jakarta, Pintu News – Dogecoin is currently trading at $0.169, showing a decline after reaching $0.19 in late April. Although there is some hesitation in the rally, the price structure being built by Dogecoin (DOGE) shows potential for further major moves.

Crypto analyst, MasterAnanda, revealed that the current consolidation could be the beginning of a significant surge similar to the Dogecoin (DOGE) rally in the past.

Dogecoin price pattern hints at repeat of previous bullish phase

MasterAnanda’s analysis focuses on a recurring structure with three low points labeled (1), (2), and (3) on the Dogecoin (DOGE) daily candlestick chart. These dots formed between July and October 2024, each signaling a stage of price correction.

The current pattern shows striking similarities, with the third low (3) forming higher compared to (2), suggesting the potential for a major bullish impulse that takes Dogecoin (DOGE) towards the $0.50 level.

The descending wedge pattern that occurred from February to April has broken, and although the $0.145 support zone has been tested three times in the past two months, there is a possibility that this zone will be tested again. This would complete the formation of a third low point before the price bounces back.

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Analysts Suggest Aggressive Buy and Hold During Retracement

Based on this analysis, Dogecoin (DOGE) may retest the zone at $0.145 to complete the formation of the third low before rebounding. However, MasterAnanda’s advice is not conservative. In his post on TradingView, he suggests buying aggressively and taking every short-term price drop as a rare opportunity to buy.

If you can’t buy more, it is advisable to keep holding the asset. The last formation in 2024 resulted in a 380% surge to a multi-year peak of $0.48. If the same pattern repeats, a similar rise from $0.145 could push the price close to $0.70, which would take Dogecoin (DOGE) back to its all-time high range.

Minimum Price Expectation Above $0.4

Although MasterAnanda did not explicitly target an extreme number, he identified a move above $0.40 as a minimal expectation based on the current setup. At the time of writing, Dogecoin (DOGE) was trading at $0.1695. With this analysis in mind, investors may see this as an opportunity to participate in a potentially significant price increase in the near future.

Conclusion

Taking into account historical patterns and current technical analysis, Dogecoin (DOGE) is showing early signs of a bullish wave that may not only reach, but also exceed market expectations. For investors and crypto enthusiasts, this period may be a crucial time to consider their positions in Dogecoin (DOGE).

Also Read: New Hampshire Becomes a Pioneer, Officially Keeping Bitcoin as a Reserve!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.