The price of Dogecoin recently broke out of a Symmetric triangle patternsignaling potential for bullish momentum. Interestingly, this escape occurred just three days before Donald Trump’s presidential inauguration. Due to the timing, a crypto analyst issued a bullish price prediction, predicting that Dogecoin could soon reach new all-time highs.
Dogecoin price breaks out of bullish chart pattern
In an X (formerly Twitter) job On Friday, Master Kenobi, a prominent crypto analyst, presented a technical analysis of Dogecoin use historical data and technical models to predict the future price of the meme coin. The analyst’s chart shows a symmetrical triangle, with an uptrend often appearing when two converging trendlines meet.
According to Master Kenobi, Dogecoin recently broke out of this symmetrical triangle, signaling potential for strong upward movement in the sense of escape. The red threshold highlighted on the analyst’s Dogecoin price chart shows the meme coin’s next key resistance level at $0.56.
Reaching a price beyond this resistance zone at $0.44 suggests that Dogecoin will likely reach an all-time high of $0.74 as its ultimate target. Additionally, 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 estimates Dogecoin could reach a new ATH in three days, going from its market value of $0.39 to $0.74. This considerable price hike represents a massive 89.7% increase over current prices. Looking at the chart, the analyst also indicated that Dogecoin’s forecast rise will be gradual, potentially surpassing $0.44 to reach a new resistance level at $0.56 and then increasing to an ATH price level of $0.74.
Although Master Kenobi has maintained his confidence in his bullish Dogecoin price projection, he also acknowledges the uncertainty inherent in his opinion. price forecastadvising investors to remain flexible in their strategies and maintain their opinions.
Despite Dogecoin’s Recent Bullish Performance Ahead of Trump’s inauguration, the analyst’s technical analysis remains speculative and highlights the volatility of the crypto market. Nevertheless, the Dogecoin price increases exponentially, it surged 18.8% earlier this week and retested the psychological level of $0.4.
Analyst Says Dogecoin Bull Run Is Coming
According to prominent crypto analyst Trader Tardigrade, Dogecoin Trend Pattern in 2017 faithfully reflects its current movement. The analyst has common a chart providing a comparative analysis of Dogecoin’s price performance in 2017 and its projected movement in 2025.
Both Dogecoin charts show a prolonged period of price consolidation after reaching significant local peaks. In 2017 and 2025, Dogecoin experienced long-term downward pressure, creating support near the horizontal blue line on the chart.
Additionally, the charts show a descending red trendline forming during Dogecoin’s consolidation phase. According to Trader Tardigrade’s analysis, if Dogecoin manages to break above this trendline, it could signal the start of a massive bull runpotentially pushing the price of the meme coin above $3 and marking a new ATH.
Featured image from Business Insider, chart from TradingView
