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A popular crypto analyst has predicted that Dogecoin (DOGE) could rally toward $2, marking a potential 1,098% increase from current levels. The forecast comes from Crypto Patel, who shared a chart on TradingView showing a bullish channel and rising momentum after the meme coin’s strong rebound above the $0.16 support line.
The chart illustrates a wide ascending channel with multiple resistance targets, suggesting a structured rally path. According to the projection, Dogecoin could reach $0.44, $1.00, and eventually $2.00, provided it remains above the identified green support zone. The analyst described this level as a “bullish only above” area, emphasizing its importance for continuation of the trend.
The Dogecoin price is currently near $0.18, reflecting a 9.4% daily decline; however, the long-term outlook remains optimistic if buyers can sustain control above the support level. This setup hints at gradual accumulation ahead of what some traders expect to be the next meme coin surge.
The price movement continues to be limited to a rising parallel channel, which has been Dogecoin’s broader market structure since 2021. In the past, similar setups have foreshadowed significant price hikes for DOGE, which corresponds to previous periods when retail and institutional money entered the market.
Crypto Patel’s analysis provides targets that are right in the middle of psychological resistance areas. The first breakout of consequence may take place close to $0.45, next at $1.00, and then $2.00, which would be at the top of the long-term channel. This prediction conveys an enormous upside potential from the current market area, such as a 10x return.
Momentum indicators are starting to show signs of recovery for meme coins, with volume approaching the support level. Patterns like these are usually interpreted as reaccumulation phases that are followed by strong price extensions. Therefore, traders are likely to look for confirmation of higher lows during the coming weeks.
The post has generated a lot of buzz and discussions among traders on social media platforms. People are asking whether Dogecoin can hit the 2021 peaks again. Some are being very cautious, while others view the $2 target as quite realistic due to the ongoing interest in meme assets.
DOGE’s performance is considered a sign of the broader altcoin market sentiment. Traders are waiting for a consistent move above $0.26 that will unlock not only the retail market but also the interest of trading robots.
Dogecoin is still in place among the leading crypto assets by market capitalization despite the volatility expected in the near future. Its vibrant community and improved technical situation have made it a hotspot for speculative rallies.
Also Read: Dogecoin Strives For $1.70 as Chart Projects 800% Surge
Dogecoin’s technical chart shows a clear bullish structure, supported by strong buying near $0.16. The next few weeks could determine whether DOGE breaks key resistance levels and begins its climb toward the ambitious $2 target projected by analysts.
