Dogecoin Targets $1.40 as Analyst Predict Strong New Rally Phase

• Dogecoin is trading at $0.21489 and analysts see the next impulsive wave pushing its price between $1.00 and $1.40 soon.
• Cyclical rallies show Dogecoin has surged 290%, 440% and 740% in past phases, proving its strong growth pattern and investor appeal.
• Dogecoin trades inside its long-term logarithmic channel with strong support zones, showing resilience and potential for another big rally.

Dogecoin is showing signs of another explosive move in the crypto market. Analysts from Bitcoinsensus highlighted that $DOGE is preparing for a significant rally within its long-term logarithmic uptrend. 

The cryptocurrency currently trades at $0.21489 against USDT and continues to attract traders watching for potential gains. According to the analysis, the next impulsive wave could push Dogecoin’s price toward the $1.00 to $1.40 range, creating one of the largest upside opportunities in its history.

The chart shared by Bitcoinsensus demonstrates how Dogecoin has moved in impulsive cycles since late 2022. Each rally has been bigger than the last, reflecting the coin’s tendency to surge in stair-step patterns. The current setup suggests another strong leg higher may be forming, especially with Dogecoin holding well above long-term support levels.

Cyclical Growth and Rally Phases

Dogecoin’s first rally phase began in late 2022, when price action climbed from $0.05 to nearly $0.23. Hence, this surge delivered gains of about 290% before heavy selling pushed prices lower.

Source: Bitcoinsensus

Another powerful rally occurred during 2024, carrying Dogecoin toward $0.50 with gains of 440%. Moreover, this movement created the highest price levels of that cycle before another correction set in.

The most impressive rally emerged as Dogecoin rocketed to $1.40, a 740% surge from earlier lows. Consequently, this phase marked the strongest price expansion within the timeframe while confirming the coin’s exponential growth behavior.

Logarithmic Channels and Market Outlook

Dashed trendlines on the chart outline ascending logarithmic channels that define Dogecoin’s long-term structure. Besides, these channels highlight expanding price ranges during each cycle. Multiple green circles mark crucial support zones where Dogecoin rebounded after corrections.

Despite recent declines, the cryptocurrency is showing resistance as it currently trades near the upper part of its channel. Active market participation is also confirmed by volume trends, which continue to exhibit increased activity during rallies and corrections.

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