Dogecoin Pump Almost Here, Analyst Highlights Third Falling Wedge Breakout Pattern on DOGE/BTC

A bullish crypto analyst predicts an imminent Dogecoin price surge. The analyst points to a third falling wedge breakout pattern on the DOGE/BTC chart, noting that previous similar patterns resulted in significant price increases.

Bitcoin currently trades in the mid-$90,000 range, with analysts anticipating a bullish surge pushing it to six-figure prices and closer to its previous all-time high (ATH) of $109,000. Subsequently, Bitcoin is expected to reach even higher ATHs, triggering a broader altcoin pump. Analysts believe a Dogecoin pump is imminent, anticipating a new ATH for DOGE.

Dogecoin Pump Imminent

Prominent altcoins like Dogecoin, Cardano, and XRP – legacy assets from the early days of the Web3 revolution – are expected to perform strongly. While Ethereum (ETH) is often seen as leading altcoin movements, altcoins themselves frequently exhibit greater bullish momentum than ETH.

This bull cycle is expected to follow a similar pattern. Despite a delayed altseason, altcoins continue to display bullish signals. Some altcoins have shown these signals since 2023, preceding the anticipated 2024 Bitcoin halving. Traditionally, altseason occurs in Q1 following the halving year.

However, this cycle's prolonged correction phase has disrupted the typical four-year pattern. This correction, attributed to Bitcoin's rapid initial price increase, is now considered over, paving the way for exponential growth in both Bitcoin and altcoins. The delayed altseason also renders the traditional four-year cycle less reliable, leading analysts to focus more on price chart signals.

DOGE Price Shows Third Falling Wedge Breakout

A third falling wedge breakout has occurred in the DOGE/BTC pair. Each previous instance of this pattern has resulted in a substantial Dogecoin price increase, leading to the expectation of a similar outcome. Analyst expectations for DOGE are exceptionally high this cycle, with predictions of new ATHs potentially reaching $1 or even $10.

Tags: Altcoin, Altseason, Bullish, Crypto market, Cryptocurrency, Doge, Dogecoin