Dogecoin Megaphone Pattern Confirms Price Blowup, ‘Don’t Miss This Last Rally’—Analyst

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Crypto analyst TradingShothas drawn attention to a bullish pattern for Dogecoin, indicating that a significant price surge is on the horizon. The analyst suggested that this could be the final leg up for the foremost meme coin and advised market participants not to miss it.  Dogecoin Eyes Parabolic Rally With Megaphone Pattern

In a TradingView post, TradingShot predicted that Dogecoin could rally to as high as $1.25. He noted that the meme coin has been trading in a bullish Megaphone patternwithin a channel up. The analyst added that the recent rebound on June 16 on the weekly MA200 is a higher low at the bottom of both patterns.  Related Reading Dogecoin Megaphone Pattern Confirms Price Blowup, ‘Don’t Miss This Last Rally’—Analyst 9 hours ago

With the 1-week Relative Strength Index (RSI)also rebounding on its long-term support zone, TradingShot declared that Dogecoin is most likely at the start of a new bullish leg. He noted that this could be the final rally that will shape this cycle’s top. Meanwhile, the analyst claimed that DOGE is targeting $1.25 because the previous two bullish legs peaked on the 3.618 Fibonacci extension of the last decline.  Source: TradingShot on Tradingview

He told market participants that they can settle for $0.8 if they wish to pursue a target within the Channel up. A rally to both $0.8 and $1.25 would mark new all-time highs (ATHs)for Dogecoin, whose current ATH is at $0.73. His accompanying chart showed that DOGE could reach these targets in the first half of next year. 

Dogecoin is expected to maintain a steady climb from now till then as it reaches those targets. The meme coin has already begun another uptrend following Bitcoin’s rally to a new ATH. DOGE has again reclaimed the $ 0.20 psychological price level and could potentially reach its last local high at around $0.26.  DOGE Against Its Bitcoin Pair

In an X post, crypto analyst Kevin Capital stated that the DOGE/BTC chart is sitting in a historical zone of support with the monthly time frame indicators fully reset. The analyst indicated that this was possibly the best setup for Dogecoin, one that could spark a massive run for the meme coin.  Related Reading Analysts Predict Major Dogecoin Price Rally After Breaking 50-Day Trendline 1 week ago

Meanwhile, crypto analyst Trader Tardigrade statedthat the Dogecoin-to-Bitcoin chart might show a God candle this month. This God candle could spark a DOGE season, when the meme coin is expected to outperform the flagship crypto. The analyst’s accompanying chart showed that DOGE could rally to as high as $9 during this period. Meanwhile, he highlighted the $0.2 support level as being crucial for this lift-off for the meme coin. 

At the time of writing, the Dogecoin price is trading at around $0.2, up almost 2% in the last 24 hours, according to datafrom CoinMarketCap. DOGE trading at $0.20 on the 1D chart | Source: DOGEUSDT on Tradingview.com Featured image from iStock, chart from Tradingview.com