Dogecoin Breaks Gaussian Channel: Is the $1 Milestone Approaching?

Returning to December 2024, the price of Dogecoin entered the Gaussian Channel after a sharp decline when Bitcoin experienced multiple crashes. However, despite this downturn being triggered by selling pressure, Dogecoin's entry into the Gaussian Channel resulted in an increase in price, indicating a rapid recovery trend after the decline. This is because the Gaussian Channel can act as a springboard to propel DOGE to new all-time highs. Gaussian Dogecoin channel flashing green Over the past few weeks, the price of Dogecoin has been trending within the Gaussian Channel, indicating evidence of price increase but the move is not yet complete. However, this is starting to change as for the first time, the Gaussian Channel of Dogecoin has turned green. According to cryptocurrency analyst Trader Tardigrade, the Gaussian Dogecoin channel has recently flashed green on the 4-hour chart. This development indicates the potential breakout of the channel that has been in existence for the past three weeks. It also signals the start of a bullish move that could push the price above the coveted $1 mark. The initial target for Dogecoin's price from here is towards $0.5, where the biggest resistance is currently for DOGE price due to the recent peak. Upon surpassing the resistance level, the analyst's chart indicates strong potential for further price advancement. The peak of the breakthrough is a $1.4 target, up more than 200% from the current price. This target is in line with earlier predictions by analysts about DOGE, indicating that the leading meme coin will soon reach an all-time high.

Analysts are optimistic about the price of DOGE Despite the crash shaking Dogecoin's price in December 2024, cryptocurrency analysts remain quite optimistic about this meme coin. Cryptocurrency analyst Dima James shared in December that Dogecoin's price could reach two digits in this cycle. James used historical data to support his prediction, showing that DOGE has a history of experiencing significant spikes. These spikes primarily occur in four-year cycles, with the latest large spike happening in 2021, meaning that 2025 is the next year in the four-year cycle. If this is correct, then the price of DOGE could reach a new all-time high in the first quarter of 2025. In another analysis reported by NewsBTC, a cryptocurrency analyst predicted that the price of DOGE could surge to $5, forecasting a 1,500% increase for this meme coin. This time, the analyst set the timeframe around mid-March and April, with only a few months for this prediction to materialize. At the time of writing, Dogecoin is trading at $0.383, down 48% from its all-time high of $0.7376 recorded in May 2021. DYOR! #Write2Earn #Write&Earn $DOGE {spot}(DOGEUSDT)